Carl Hugo Parment | White & Case LLP International Law Firm, Global Law Practice
Carl Hugo Parment
Carl Hugo Parment

Carl Hugo Parment

Partner, Stockholm

T +46 8 506 32 341

T +46 8 506 32 300

E [email protected]

in LinkedIn profile

“‘Standout work for high-end clients’, ‘very commercial’ and has ‘very strong technical and client-handling skills.’” “Skilled, experienced and easy to work with.” “‘Impressive knowledge of funding arrangements, the bond market and the different kinds of debt.’”

The Legal 500 EMEA, 2013 and 2014 / IFLR 1000, 2014 / Chambers Global, 2015

Overview

Carl Hugo's practice focuses on aspects of banking and finance law, debt capital markets and financial restructuring/ insolvency. He frequently advises both lenders and borrowers in complex domestic and international transactions, especially within leveraged finance and real estate transactions. His range of experience also includes involvement in capital markets transactions, especially domestic and international bond offerings.

Carl Hugo has been involved in numerous significant transactions in the Nordic region and across Europe, advising on the planning and establishment of complex financing arrangements suited to the needs of each borrower or lender. His work often involves navigating the challenges of transactions which cover multiple jurisdictions. Carl Hugo's experience spans a number of industry sectors, including manufacturing, food production, the automotive industry and telecommunications.

He also has years of knowledge of Mergers & Acquisitions within the financial industry, especially regarding acquisitions of both public and private financial institutions and debt portfolios.

In addition, Carl Hugo has a significant track record in the area of insolvency law and distressed debt. Recent insolvency related mandates include significant transactions within a number of industry sectors such as automotive, mining and real estate. This experience covers formal and informal insolvency proceedings, enforcement of security interests and workouts relating to private equity owned companies. He is a member of INSOL International, the International Association of Restructuring, Insolvency & Bankruptcy Professionals.

Before joining White & Case in 2011, Carl Hugo was Head of Legal at DNB (Sweden), which is one of the leading financial institutions in the Nordic region. Prior to this, he worked as a senior associate at a leading Swedish law firm. Carl Hugo also has several years of board experience within the financial services industry.

Bars and Courts

  • Swedish Bar

Education

  • LLM, Juris kandidat, Stockholm University, Sweden
  • BSc, Econ, Stockholm University, Sweden
  • LLM, Finance, Frankfurt am Main, Institute for Law and Finance, Germany
  • Harvard Law School, Accelerated Leadership Program, Executive Education

Languages

  • Swedish
  • English

Experience

Banking

Represented ABG Sundal Collier ASA, DNB Bank ASA and Pareto Securities AS, as Arrangers, on the issuance by Brado AB (publ) of SEK 600 million senior secured floating rate bonds due 2023 and SEK 150 million junior floating rate bonds due 2023 governed by Swedish law. Brado, which is part of the Adolfsen Group, used the proceeds from the senior and junior bonds to acquire and refinance the private healthcare provider Frösunda Group AB. The Firm also assisted on the related intercreditor arrangements.

Represented Carnegie Investment Bank AB (publ) as bookrunner on the issuance by Moment Group AB (publ) of up to SEK 400 million senior unsecured floating rate notes due 2021. Moment Group, which is one of the leading actors in the experience industry in Northern Europe, used the proceeds to refinance existing debt and for general corporate purposes (including acquistions).

Representation of Quant AB (publ), as Issuer, on the issuance of €62.5 million senior secured floating rate bonds due 2023 and €28 million junior fixed rate bonds due 2023 governed by Swedish law. Quant, which is the global leader in industrial maintenance and owned by Nordic Capital, used the proceeds from the senior and junior bonds to refinance its outstanding facility of US$125 million (and uncommitted facility of up to US$50 million). The White & Case team also assisted on the establishment of a €20 million Multi- Currency Revolving Credit Facility provided by Nordea.

Representation of Nomura and Barclays in connection with their acquisition of Cevian Capital's entire stake in AB Volvo, the global leading truck manufacturer and the largest stock-listed entity in Sweden, and their subsequent on-sale of the entire stake to Geely.

Representation of DNB Bank in respect of a real estate facility for an international real estate fund.

Representation of Bayern LB in respect of a real estate facility for an international real estate fund.

Representation of Swedbank in respect of a leverage loan facility for the private equity fund Segulah.

Capital Markets

Representation of Toyota Industries Finance International AB (publ) and Toyota Industries Corporation in relation to their US$1 billion Euro Medium Term Note programme.

Representation of Svenska Handelsbanken AB as issuer and Svenska Handelsbanken AB (publ), acting through its New York Branch, as guarantor, in respect of Svenska Handelsbanken's US$20 billion Medium Term Note Program.

Representation of Stadshypotek AB (publ) in respect of its €20 billion Medium Term Covered Note Program.

Representation of Stadshypotek AB (publ) in respect of its US$15 billion Medium Term Covered Note Program.

Representation of Nordea Bank AB (publ) as issuer under its US$25 billion Global Medium Term Note Program.

Representation of Nordic Capital on the financing of its acquisition of Israeli media solutions company Vizrt Ltd. through a reverse triangular merger, by the issue of US$113.3 million senior secured bonds due 2021 issued by a Norwegian finance vehicle.

Representation of the Norwegian private equity fund FSN Capital in connection with a number of acquisitions and acquisition financings including Kjell & Co (a Swedish consumer electronic accessories retailer); Fibo (the Nordic market leader within the wet room wall panel segment); and Roplan (a global niche leader in high-end custom mechanical seals). Carl Hugo has also represented FSN in respect of a number of their portfolio companies including Instalco, Green Landscaping, PM Retail and Vita, on various transactions.

Representation of Troax Corp AB (publ), a Nordic industrial parts manufacturer, on its issue of €70 million Senior Secured Callable Floating Rate Bonds due 2020.

Representation of Swedish confectionary company Cloetta AB (publ) on its issue of SEK 1 billion senior secured notes due 2018 and the amendment of certain of its existing financial indebtedness. The Notes rank pari passu with Cloetta AB (publ)'s bank financing and are listed on NASDAQ OMX Stockholm.

Representation of Synthos S.A., one of the largest European producers of chemical raw materials, on the issuance of senior notes with a total value of €350 million. The notes were issued by Synthos Finance AB (publ), a special purpose vehicle with a registered office in Stockholm, Sweden.

Financial Restructuring and Insolvency

Representation of an international financial institution in connection with the financial restructuring of the publicly listed mining company Northland Resources.

Representation of the publicly listed company Russian Real Estate Group in connection with its financial restructuring, which included inter alia a redemption of distressed high yield bonds, as well as a rights issue.

Private Equity

Representation of Nordic Capital in connection with the financing of their acquisition of Ryds Bilglas, one of the leading vehicle glass repair and replacement companies in Sweden.

Representation of Norwegian private equity FSN in connection with the financing of its acquisition of Kjell & Co, a Swedish consumer electronic accessories retailer. Carl Hugo has also represented FSN in respect of a number of their portfolio companies including Troax, Instalco and Vindora, on various transactions.

Representation of Nordic Capital in a number of transactions, including the financing of its acquisition of Lindorff, a leading European debt collecting company. Carl Hugo also acted for Nordic Capital in connection with the financing of the acquisition of a majority stake in the retail chain Gina Tricot, and with the financing of the acquisition of AniCura, a leading Nordic operator of companion animal hospitals and veterinary clinics, and the public bid offer for Vizrt, an Israeli company listed on the Oslo Stock Exchange.

Publications

  • The International Comparative Legal Guide to Corporate Recovery & Insolvency, 2012-2016 ed, Global Legal Group Ltd London, (co-author)
  • The International Comparative Legal Guide to Lending and Secured Finance, 2015 and 2016 ed., Global Legal Group Ltd, London, (co-author)
  • The Strategic View – Corporate Restructuring 2016, Global Legal Group Ltd, London, (co-author)
  • Getting the Deal Through: Debt Capital Markets 2016, Law Business Research Ltd, London, (co-author)
  • Corporate Restructuring, The Strategic View, Global Legal Group Ltd, London, 2016 ed., (co-author)
  • The International Comparative Legal Guide to Lending and Secured, 2015 ed., Global Legal Group Ltd, London, (co-author)
  • The International Comparative Legal Guide to Corporate Recovery & Insolvency, 2012 ed. - 2015, Global Legal Group Ltd, London, (co-author)
  • Ringfencing ger lån – Men se upp med villkoren, Del 1 av Finansjuridikskolan, published in No 4/12 of Fastighetsvärlden, 2012, (co-author)
  • När banklånen inte stödjer affären - Obligationer – Ett alternativ och komplement, Del 2 av Finansjuridikskolan, published in No 5/12 of Fastighetsvärlden, (co-author)
  • Säkerheter vid finansiering - Att tänka på vid pantsättning, Del 3 av Finansjuridikskolan, published in No 6/12 of Fastighetsvärlden, (co-author)
  • Brief introduction to Swedish law regarding asset finance, Asset Finance Country Survey Sweden, Asset Finance International, February 2012, (co-author)

Awards & Recognition

Leading Banking Lawyer 2016 "Who's Who Legal"

Leading Lawyer, Sweden: Banking & Finance, Capital Markets, Corporate and M&A, IFLR 1000, 2016

Legal 500 Europe, 2014 – Banking & Finance, Sweden

"'Very strong technical and client-handling skills'"

Legal 500 Europe, 2013 – Banking & Finance, Sweden

"'Very commercial'"

Chambers Global, 2015 – Capital Markets, Sweden

"Banking lawyer Carl Hugo Parment is praised for his excellent practice on high-yield bonds. 'He has impressive knowledge of funding arrangements, the bond market and the different kinds of debt', sources note."

Chambers Global 2015 – Banking & Finance, Sweden

"Clients in the banking sector particularly value Carl Hugo Parment's client service and commercial knowledge, describing him as 'a very good lawyer who tries to find solutions and is very focused on the market.'"