MetLife, Inc. (NYSE: MET) announced today that a consortium of its
affiliates and third party investors have provided 155 million euros to
Elenia Finance Oyj for the long-term financing of Elenia Oy, the second
largest distributor of electricity in Finland, and Elenia Lämpö Oy,
Finland’s second largest private seller of district heat.
MetLife and its third-party investor clients, advised by MetLife
Investment Management, purchased 120 million euros of notes issued by
Elenia Finance Oyj. MetLife also purchased an additional 35 million euro
note for its own account in a separate transaction. Both investments
have a 20-year maturity.
“MetLife is adding energy to its infrastructure investments in Europe as
we continue to diversify our portfolio for the long term,” said John
Tanyeri, managing director and head of infrastructure investments for
MetLife in Europe. “We are delighted to support investment by Ilmarinen
Mutual Pension Insurance Company, GS Infrastructure Partners and 3i in
Finland’s essential infrastructure. Elenia is a modern company with a
long history and great track record. We look forward to a great
relationship with them.”
Elenia operates two businesses. Elenia Oy is the second largest
electricity distribution company in Finland, serving 412,000 customers
with a 12 percent overall national market share. The second business is
Elenia Lämpö Oy, the country’s second largest private seller of district
heat, with 85,000 commercial and residential users.
MetLife Investment Management, LLC, an SEC-registered investment
advisor, leverages the investment expertise of MetLife Investments to
seek attractive, long-term returns for institutional investors,
including insurance companies, public and private pension plans, and
sovereign wealth funds.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates
(“MetLife”), is one of the largest life insurance companies in the
world. Founded in 1868, MetLife is a global provider of life insurance,
annuities, employee benefits and asset management. Serving approximately
100 million customers, MetLife has operations in nearly 50 countries and
holds leading market positions in the United States, Japan, Latin
America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
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Copyright Business Wire 2014