Concept photo Ficolo the air

Ficolo Issues EUR 20 Million Green Bond as First Privately-Owned Company in Finland

An independent green bond assessor confirmed that the intended use of the funds helps to prevent climate change

The data center services provider Ficolo Oy successfully issued an EUR 20 million bond to support strong growth. The proceeds from the bond will be used mainly for the modernization and expansion of Ficolo’s Helsinki data center. The proceeds may also be used for acquisitions.

The bond is the first green bond issued in Finland by a fully privately-owned company. The bond was certified by the Norwegian climate research institute CICERO, which evaluated the environmental impact of the bond. Ficolo was the first Finnish issuer to receive the highest CICERO rating (“Dark Green”) for its bond. This rating is given to projects that help prevent climate change.

Ficolo’s Helsinki data center aims to help tackle climate change through energy efficiency, heat recovery and recycling, and the exclusive use of renewable energy, which in practice will be wind energy.

“Data centers are highly energy-intensive and thus play a role in the prevention of climate change. We have always only used renewable energy in our data centers, and we have developed our energy efficiency to absolute world-leading levels. Investing in reducing environmental impact is a clear strategic choice for us and a responsible operating model which also brings a competitive advantage. “The fact that our bond received the highest possible rating from CICERO is also a strong message to our customers,” says Seppo Ihalainen, CEO of Ficolo.

The term of Ficolo’s green bond is four-years with a fixed coupon of 5.5 per cent. The issue date of the bond is October 2, 2019. Taaleri Capital has acted as financial advisor and Taaleri Wealth Management as the lead manager of the bond issue. Borenius Attorneys Ltd has acted as legal advisor in the arrangement.

“It is great that also other companies, not just large companies, are looking for green financing directly from the market. The business sector accounts for more than two thirds of value added GDP, so it is clear that the fight against climate change must be won first and foremost in the companies. Green financing is a great way to engage both the company and investors in projects with the highest impact. As a new economy company, Ficolo is also an example of the fact that creating new growth and combating climate change are not mutually exclusive goals,” says Vesa Heikkilä, CEO of Taaleri Capital.

“We are delighted that the Ficolo green bond has attracted so much popularity among both private and institutional investors. For Pontos, minimizing the environmental impact of properties is important, and the Green Bond strengthens Ficolo’s already exemplary position in realizing this value. The short bond sale period and significant oversubscription indicate that investors are confident in Ficolo’s ability to complete the largest investment in its history successfully,” says Tom Järvi, Ficolo’s board member and CFO of Pontos Oy, Ficolo’s other main owner.

For more information, please contact:

Seppo Ihalainen, CEO, Ficolo Oy, +358 44 774 4300,

Ficolo in brief

Ficolo, founded in 2011, is a data center company specializing in Cloud Delivery services. Ficolo has three data centers: The Air in Helsinki, The Rock in Pori, and The Deck in Tampere.  In addition, the company operates the Ficolo-IX Connectivity Hub in Helsinki. Ficolo also provides cloud and data center connectivity services, SDN-based cloud networking and a centralized multi-cloud management solution.

Ficolo helps its customers transform their business model into a cloud-based model; the company offers all the service components required to provide global cloud services, from colocation spaces to connectivity and state-of-the-art data security services.  Ficolo is owned by Pontos (approx. 43%), Taaleri private equity funds (approx. 43%), and the company’s management and board of directors (approx. 14%).