Krogerus advises Sampo on its issuance of EUR 500 million notes, marking the first Tier 2 notes under Solvency II in Finland

Krogerus advised Sampo plc on the standalone issuance of EUR 500 million fixed/floating rate dated subordinated notes due 2049, marking the first debt instrument counting towards Tier 2 own funds under the Solvency II Directive issued by a Finnish issuer.

The notes were rated Baa1 by Moody's, listed on the Official List of the UK Financial Conduct Authority and admitted to trading on the Regulated Market of the London Stock Exchange.

Citigroup, Nordea Bank and Goldman Sachs acted as joint lead managers.

Sampo is a leading banking and insurance holding company in the Nordics. Its insurance holdings include If P&C Insurance, Mandatum Life and a major holding in Topdanmark. In the banking sector, it is the largest shareholder of Nordea Bank and a major shareholder of Nordax Group. Sampo is listed on the official list of Nasdaq Helsinki and has a market capitalisation of some EUR 22 billion.