CAT FINANCIAL AND NORDEA COLLABORATE TO SERVE NORDIC MARKET

CAT FINANCIAL AND NORDEA COLLABORATE TO SERVE NORDIC MARKET

Nordea Finance, the Nordic market leader in asset-based finance and subsidiary of Nordea Bank, and Caterpillar Financial Services Corporation (Cat Financial), a wholly owned subsidiary of Caterpillar Inc. and the largest financier of Cat® machines worldwide, have announced the development of a new financial programme specifically designed to serve Pon Equipment and Wihuri customers in Nordic sales territories.

The programme, known as Cat Financial Services, has been developed by Cat Financial and Nordea Finance to benefit Caterpillar customers in the region. Cat Financial Services initially will be available for financing Cat products sold by Pon Equipment in Norway, Sweden and Denmark and by Wihuri in Finland. The programme will bring unique benefits to the buyers of Cat products based on experience and specialised knowledge from both partners.

Through this programme, Nordea Finance and Cat Financial hope to service the financial needs of qualifying Pon Equipment or Wihuri customers, from a small business buying a single machine to the largest Cat mining fleet order where a multi-source approach to finance might have been necessary in the past.

“The programme will make available the best practices of Cat Financial and Nordea Finance, leveraging of Nordea Finance’s infrastructure, processes, legal and regulatory capacity and funding,” explains Nordea Finance senior manager Kai Reunanen, who will take operational responsibility for the venture.

The programme will be administered by representatives from Cat Financial, Pon Equipment (as the Cat dealer for Norway, Sweden and Denmark), Wihuri (as the Cat dealer for Finland) and Nordea Finance. “This new financing programme will benefit from Cat Financial’s excellent understanding of the underlying value of Cat equipment, its strong long-term customer commitment and its ability to leverage the international Cat dealer and customer network,” said Kent Adams, president of Cat Financial and vice president of Caterpillar Inc.

Pon Equipment and Wihuri will help to promote the alliance to existing and potential customers. Specialists for the programme are expected to be deployed at Pon Equipment’s and Wihuri’s major facilities.

The benefits for customers will include a unique combination of Caterpillar marketing initiatives, deal structures and affordable financing options, together with a high level of flexibility.

For 30 years, Cat Financial, a wholly owned subsidiary of Caterpillar Inc., has been providing financial service excellence to Cat customers. The company offers a wide range of financing options to customers and Cat dealers for Cat machinery and engines, Solar® gas turbines and other equipment and marine vessels. Cat Financial has offices and subsidiaries located throughout the Americas, Asia, Australia, and Europe, with headquarters in Nashville, Tennessee, USA.

Nordea’s vision is to be a Great European bank, acknowledged for its people, creating superior value for customers and shareholders. Nordea is making it possible for its customers to reach their goals by providing a wide range of products, services and solutions within banking, asset management and insurance. Nordea has around 11 million customers, approx. 1,400 branch offices and is among the ten largest universal banks in Europe in terms of total market capitalisation. The Nordea share is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Helsinki and Copenhagen.

 

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CAT, CATERPILLAR, their respective logos, “Caterpillar Yellow” and the “Power Edge” trade dress, as well as corporate and product identity used herein, are trademarks of Caterpillar and may not be used without permission.  

 

Press Inquiries

Kai Reunanen +358 500 312 993 kai.reunanen@nordea.com   Marcia Colburn Caterpillar Financial Services Corp. Nashville, Tennessee, USA +1 615 341 5003