Borenius advised the lead managers on Outokumpu Plc’s EUR 250 million senior secured high-yield notes issue
We advised Nordea Markets and Pohjola Markets as coordinators and lead managers, and Danske Bank, Skandinaviska Enskilda Banken and Swedbank as the other lead managers on the EUR 250 million senior secured notes issue by Outokumpu Plc. The bond is secured and guaranteed by several domestic and foreign subsidiaries belonging to the Outokumpu Group and it is also listed on NASDAQ OMX Helsinki. The EUR 250 million high-yield bond is also, to date, the largest high-yield bond launched under the recently adopted Finnish high-yield documentation (the model terms and conditions promulgated by the Confederation of Finnish Industries (EK)). Simultaneously with the offering of the new bond, Outokumpu also carried out a partial voluntary tender offer of its existing bond maturing in 2015. In connection with the tender offer we advised Nordea Bank and Pohjola Bank as dealer managers and Nordea Bank as a tender agent.
Outokumpu employs more than 12 000 professionals in more than 30 countries, with headquarters in Espoo, Finland and has shares listed on the NASDAQ OMX Helsinki.
The key members of the Borenius team were Partner Juha Koponen and Specialist Partner Niina Nuottimäki. Outokumpu is a global leader in stainless steel.