NEW YORK--(BUSINESS WIRE)--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.
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.