11 Jun 2021
EUR 41 million
Infrastructure, transportation and telecom
NIB has signed a 5-year loan of EUR 20 million with Finnish Valokuitunen Oy for financing the roll-out of new fibre-to-the-home network connections in the suburban areas of the largest cities in Finland.
The fibre network investments will provide new digital infrastructure and services, and expand the coverage of high-speed fixed line connections in residential neighbourhoods in Finnish growth centres and surrounding areas. Valokuitunen Oy’s fibre network roll-out plan is estimated to enable high-speed internet access to more than 70,000 customers by 2025.
Established in 2020, Valokuitunen Oy is a joint venture between CapMan Infra and Telia Company focused on accelerating the roll-out of fibre networks in Finland. The joint venture took over Telia Finland’s existing Avoin Kuitu fibre business and assets in 2019, which provided network access to approximately 20,000 households around Helsinki, Turku and Tampere.
The fibre network investment contributes to Finland’s national digital infrastructure strategy of providing a minimum of 100 Mbps internet connections to all households by 2025.
“Given the immense increase in the amount of data being transferred, the need for people and business to have access to fast and reliable network connections is clear. The establishment of new network infrastructure has crucial importance and a key role in guaranteeing that our member countries stay at the forefront of digitalisation“, says André Küüsvek, President and CEO of NIB.
Valokuitunen plans to invest up to EUR 300 million in the establishment of new fibre networks in upcoming years. This would increase the company’s current network ten-fold and enable high-speed internet access for up to 200,000 households.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
CapMan is a leading Nordic private assets fund manager and a Finnish public company, and is invested in Valokuitunen through its CapMan Nordic Infrastructure I fund. CapMan Infra invests in sustainable energy, transportation and telecommunications infrastructure across the Nordics.
Telia Company AB is a Swedish multinational telecommunications company and mobile network operator present in Sweden, Finland, Norway, Denmark, Lithuania, Latvia and Estonia. Telia Company is headquartered in Sweden and is listed in Nasdaq Stockholm and Helsinki.
For further information, please contact
Mr Arnaud Defrance, Senior Banker, at +358 10 618 0491, firstname.lastname@example.org
Ms Iiris Anttalainen, Communications unit, at +358 10 618 0258, email@example.com