Banking & Finance, Capital Markets & Public M&A, Tax / 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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