White & Case Advises on Ovako's €310 Million Senior Secured Notes Offering
Global law firm White & Case LLP has advised Carnegie Investment Bank AB, Nordea Bank AB and Pareto Securities AS, as Joint Bookrunners, on the issuance by Ovako AB of €310 million 5% senior secured notes due 2022.
Ovako, which develops high-tech steel solutions for customers in the bearing, transport and manufacturing industries, used the proceeds of the Swedish law governed notes to refinance its outstanding New York law governed €300 million 6.5% senior secured notes due 2019. White & Case advised on the super senior revolving credit facility and pension insurance line, as well as the issuance of the notes and redemption of the existing New York law bonds.
"This is the largest local law high yield bond placement in the Nordic region to date and proves that our Stockholm team has the ability and know-how to successfully support large and complex transactions of this type," said Stockholm-based White & Case partner Magnus Wennerhorn, who led the Firm's deal team.
The White & Case team in Stockholm which advised on the transaction was led by partner Magnus Wennerhorn with support from associates Michael Bark-Jones, Katarina Davidsson and Pia Mattsson.
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