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VVO Group plc: VVO Group to receive EUR 170 million financing from the European Investment Bank


28 NOVEMBER 2016 AT 10.30.

VVO Group to receive EUR 170 million financing from the European Investment

VVO Kodit Oy and the European Investment Bank (EIB) have agreed on EUR 170
million long-term financing, which will be used to fund the construction of
nearly zero-energy buildings (nZEBs) over the next few years. The financing
is targeted at new nearly zero-energy buildings in the Helsinki Metropolitan
Area and other growth centres such as Vantaa, Espoo and Tampere. The
financing from the EIB is part of an investment programme in which VVO Group
will implement 1,800 apartments. Over the past five years, the company has
invested nearly EUR 1.5 billion in market-based rental housing.

The first loan of EUR 75 million has now been signed and the goal is to sign
the remaining loan next year. The loan from the EIB is unsecured and the
parent company VVO Group plc has provided a guarantee. The loan will be
extended under the European Fund for Strategic Investments (EFSI) - part of
the Investment Plan for Europe - the Juncker Commission's strategy to support
investments and bring back jobs and growth to Europe. It allows the EIB, the
European Commission's strategic partner in the plan, to do more lending to
innovative projects.

The goal of the financing cooperation is to develop new, nearly zero-energy
buildings and to reduce the amount of carbon emissions generated by
construction. VVO Group has already made investment decisions according to
the conditions of the loan to build nearly zero-energy buildings at
Hilapellontie 22 in Helsinki and at Pyhtäänkorventie 25 and Leineläntie 3 in

"Investing in energy efficiency is one of the most cost effective and rational
way of reducing emissions and Finland is really leading the way in this on a
European and global level. We are glad we can support VVO Group in this, and
combined with earlier investments in the sector, this operation shows the EIB
is serious about having the fight against climate change as a top priority."
saysJan Vapaavuori
, Vice President of the European Investment Bank.

"A new type of energy-efficient and climate-friendly construction plays a key
role when we invest in new construction and renovate existing properties. We
develop and provide our tenants with new housing solutions and services that
create better urban housing. Financing from the European Investment Bank
promotes new growth in line with VVO Group's strategy, and the new properties
will make it easier for people to relocate in pursuit of employment in
urbanising Finland." says VVO Group CEOJani Nieminen

More information:

VVO Group plc
Jani Nieminen, CEO, tel. +358 (0)50 373 4847

VVO Group plc

VVO Group plc offers rental apartments and housing services in Finnish growth
centres. The vision of the housing investment company is to be a pioneer in
housing and the customer's number-one choice. VVO Group aims to invest
heavily in increasing its housing supply by 2021 by developing new properties
and buying existing properties.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: VVO-Yhtymä Oyj via Globenewswire

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