Työttömyysvakuutusrahasto (TVR) - the Finnish unemployment insurance fund - obtained a €1 billion credit facility from six major Nordic banks to replace its old loans. The proceeds will secure TVR's future debt financing in 2015 and onwards.
TVR is backed by an absolute state guarantee of €770 million for this credit facility.
The credit facility is valid for two years and part of it is renewable for a further one year.
This was the biggest loan arrangement under Finnish law in 2015.