VR-Group Plc (VR Group) issues an unsecured EUR 300 million green bond. The 7-year bond carries a fixed coupon at the rate of 2.375 per cent per annum. The bond offering was allocated to both Nordic and Central European investors.
Otso Ikonen has been appointed CEO of VR FleetCare, responsible for the maintenance of rolling stock, and a member of Finnish VR Group's Management Team. He will take up his new role by 15 August 2022.
Otso Ikonen has been appointed CEO of VR FleetCare, responsible for the maintenance of rolling stock, and a member of VR Group's Management Team. He will take up his new role no later than by 15 August 2022.
On 6 April, the Board of Directors of VR Group made a decision to stop freight traffic between Russia and Finland and, on this basis, the company has prepared a plan to shut down traffic, in consultation with customers and taking into account the security of supply. The termination of contracts under the plan has been initiated and the traffic will cease completely by the end of the year at the latest.
Early in the year, VR Group’s business operations were overshadowed by the Omicron variant of the coronavirus, affecting train travel. In addition, VR Transpoint’s transport volumes decreased as a result of domestic industrial action and a decrease in Eastern traffic. The Group’s result fell to a weak level. However, a turn for the better took place towards the end of the quarter when the volumes of VR Passenger Services increased significantly, driven by leisure travel.
