References/5 Dec 2023

Borenius advised PHM Group in connection with a consent solicitation and a EUR 140 million tap issue of senior secured floating rate notes

We advised PHM Group Holding Oyj (“PHM”) as it successfully completed a second tap issue and listing of senior secured floating rate notes in a nominal amount of EUR 140 million. The new notes have an interest rate of 3-month EURIBOR plus 7.50%, and they will mature on 19 June 2026. In connection with the tap issue, PHM successfully amended the terms and conditions of its notes framework in order to increase the framework limit from EUR 200 million to EUR 450 million. The tap issue was listed together with the previously listed notes on Nasdaq Helsinki main market on 5 December 2023.

The net proceeds of the issue of the new notes have or will be applied towards e.g. general corporate purposes and the financing of the acquisition of all shares in Sefbo Holding AS, a leading service provider of contract- and subscription-based services to housing associations and condominiums in Norway.

Nordea Bank and Pareto acted as joint bookrunners for the issue of the new notes.

PHM Group is a property services group that is present in Finland, Sweden, Norway, Denmark, and Germany. PHM Group is majority-owned by a Nordic private equity investor called Norvestor.

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Niina Nuottimäki

Partner

Helsinki

Teo Virtanen

Senior Associate

Helsinki

Jill Winter

Senior Associate

Helsinki

Akseli Uotila

Associate

Helsinki

Tatu Seppäniemi

Associate

Helsinki

Jami Renholm

Associate

Helsinki