Lumo Kodit Oyj completes EUR 300 million bond issue

Lumo Kodit Oyj on May 20, 2026, finalized the issuance of EUR 300 million in senior unsecured notes under its Euro Medium Term Note (EMTN) programme. The euro-denominated notes mature in four years, with a maturity date of May 20, 2030, and carry a fixed annual coupon of 4.000 percent.

The issuance was made under the company's EUR 2,500,000,000 EMTN programme. The proceeds from the notes will be used by Lumo Kodit to partially refinance a EUR 600 million acquisition financing facility drawn earlier this year. This facility was used to partly fund the acquisition of a housing portfolio comprising 4,761 apartments from Varma.

The acquisition from Varma, Finland's largest single real estate transaction of its kind, was valued at approximately EUR 760 million. This move significantly strengthens Lumo Kodit's position as Finland's largest owner of rental apartments.

The notes have been admitted to the official list of Euronext Dublin and trading on its regulated market. Moody's has rated the notes Baa2. Goldman Sachs International, Nordea, and SEB acted as joint lead managers for the issuance.