White & Case advises Nordea and Pareto on financing of First Camp acquisition

Global law firm White & Case LLP has advised Nordea Bank Abp and Pareto Securities AS on the financing of the acquisition of a portfolio of campsites in Sweden, Germany and Switzerland by Norvestor-owned First Camp Group AB (First Camp).

The deal was structured as a temporary bridge financing provided by Nordea which was subsequently refinanced by a €33 million tap issue under the Group's existing €72 million senior secured bond on which Nordea and Pareto acted as joint bookrunners.

The transaction involved the collapse of a double side car structure and the amendment of the Group's existing bond terms to facilitate the transaction. In parallel, First Camp's existing super senior revolving credit facility was increased and, together with the intercreditor arrangements, amended to reflect and accommodate the new structure.

First Camp is the largest camping chain in Scandinavia with over 90 destinations.

The White & Case team in Stockholm which advised on the transaction was led by partner Michael Bark-Jones and counsel David Tayler, and included associates Carl Runesson, Emelie Söderman and Amalie Sollested.

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