Recent work | August 3, 2020

Roschier advised Finnair in its EUR 500 million rights offering

The Finnish national airline Finnair has successfully completed its EUR 500 million rights offering, underwritten by Nordea and Citi. Roschier acted as lead counsel to Finnair in the transaction.

In the offering, Finnair offered new shares for subscription based on pre-emptive rights for existing shareholders. Finnair plans to use the proceeds to strengthen its equity and liquidity position in the exceptional situation caused by the COVID-19 pandemic as well as to support the execution of the company strategy.

The subscription period for the rights issue ended on 1 July 2020. The shares of Finnair, of which the Finnish state owns 55.9%, are listed on the official list of Nasdaq Helsinki.

Roschier’s main advisory team comprised Antti Ihamuotila, Katri Piiparinen, Pauliina Repo and Jaakko Laitinen, along with Manne Airaksinen, Jouni Salmi, Helena Viita, Ami Paanajärvi and Christian Wik.