All agreed loans

Finland. S-ryhmän logistiikkakeskukset Oy

Date of loan: 16 May 2018
Country: Finland
Customer: S-ryhmän logistiikkakeskukset Oy
Amount in EUR: EUR 116.5 million
Maturity: 5 years
NACE sector / loan type: Supporting and auxiliary transport activities
Business area: Industries and services

Project

The new loan is a continuation to the previous loan that was provided to S-ryhmän logistiikkakeskukset Oy in August 2014 to finance a grocery logistics centre in Sipoo, Finland.

Construction and ramp-up of the automated logistics centre has proceeded as planned. The project is on schedule, and currently slightly below the budget. The building has been successfully completed, and three of the five sections have been put into operation. The ramp-up of the fourth section is ongoing and on schedule. The 24/7 logistics centre is expected to be completely operational in early 2019 at the latest.

The S Group logistics centre is owned by the S Group's central co-operative SOK (19.9%) and the 20 regional S Group co-operatives, of which the largest are: HOK-Elanto (16%), Osuuskauppa Hämeenmaa (6.2%), Pirkanmaan Osuuskauppa (5.8%), and Keskimaan Osuuskauppa (5.4%).

Fulfilment of NIB's mandate

Productivity: As a result of the technical progress in S Group’s logistics operations, the productivity of the company improves considerably.

Environment: Based on the planning process and the construction process so far, it is very likely that the logistics centre will receive a BREEAM Excellent certification.

Sustainability summary

The logistics centre is to be certified in accordance with the BREEAM Excellent
certificate, which evaluates the sustainability performance of the building.
Based on the client’s BREEAM consultant Ramboll, the certification process has
progressed well and the BREEAM Excellent level will be achieved. The new
logistics centre will be the first industrial building to receive the BREEAM
Excellent within NIB’s member countries.