References/14 Apr 2021

Borenius advised the initial purchasers and lenders in connection with Ahlström-Munksjö’s bond and term loan financing

We advised, together with Milbank LLP, the initial purchasers in connection with the issuance of a EUR 350 million aggregate principal amount of 3.625% Senior Secured Notes due in 2028 and a USD 305 million aggregate principal amount of 4.875% Senior Secured Notes due in 2028 by Spa Holdings 3 Oy.

We also advised the lenders in connection with the company’s EUR 600 million euro-denominated senior term loan facility and a USD 547 million senior term loan facility.

The proceeds of this debut bond issuance helped repay amounts outstanding under a bridge facility that was used to fund the acquisition of Ahlstrom-Munksjö Oyj by a consortium including Bain Capital pursuant to a public tender offer.

Ahlstrom-Munksjö is a leading global manufacturer of sustainable and innovative fiber solutions. The offering closed on 19 March 2021.

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Juha Koponen

Partner

Helsinki, London, New York

Niina Nuottimäki

Partner

Helsinki

Team

Ben Fallström

Senior Associate

Helsinki

Laura Renholm

Associate

Helsinki

Einari Karhu

Partner

Helsinki

Mikko Vesikivi

Associate

Helsinki

Tuomas Tikkanen

Counsel

Helsinki