Michael Bark-Jones

Counsel, Stockholm

Biography

Michael Bark-Jones specialises in DCM matters pertaining to bonds and notes, including restructuring mandates. One client praises his expertise in this area and describes him as a "very constructive person to work with."He assisted Quant with the issuance of secured floating-rate bonds and junior fixed-rate bonds.
Capital Markets: Debt Chambers Europe Band 3, 2019

Overview

Michael is an English law solicitor and EU Advokat in the firm's Banking & Capital Markets group located in the firm's Stockholm office. He has advised on a wide range of debt and equity capital market products primarily acting for underwriters and issuers (including corporates, financial institutions and sovereigns) on Reg S and Rule 144A offerings for entities in the CEE, Nordics and emerging markets.

In addition, Michael has considerable experience working on debt restructurings, liability management transactions and equity-linked issues.

A recent highlight was advising the Ministry of Finance of Ukraine on the ground-breaking restructuring of over US$16 billion of Ukraine's sovereign Eurobonds.

Bars and Courts
England and Wales
EU Advokat
Education
CPE/LPC
College of Law, London
BA
History with French
Durham University
Languages
English
French
Swedish

Experience

Represented Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) as joint bookrunners on the issuance by Stillfront Group AB (publ), the Swedish game developer of up to SEK 1,000,000,000 senior unsecured floating rate bonds due 2024 governed by Swedish law. The bond was issued for the purposes of refinancing a bridge loan used to finance the acquisition of the US game developer, KIXEYE Inc.

Advised Ukraine, as issuer, in connection with its issuance of EUR 1,000,000,000 6.75% notes due 2026. Goldman Sachs International and BNP Paribas acted as joint lead managers.

Represented Fibo Group AS as Issuer on the issuance of its up to NOK 300 million floating rate senior secured callable bonds due 2022 to refinance its existing bank debt. Fibo, owned by FSN Capital, is a leading supplier of high-quality, waterproof wall systems. The bonds are governed by Norwegian law and will be listed on the Oslo Bors. ABG Sundal Collier and Nordea acted as arrangers for the bond.

Represented Carnegie Investment Bank AB (publ), Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) as joint bookrunners on the issuance by Stillfront Group AB (publ) of up to SEK 1,000,000,000 senior unsecured bonds due 2022 governed by Swedish law. Stillfront, an independent creator, publisher and distributor of digital games with a vision to become one of Europe's leading indie game developers and publishers, used the proceeds to refinance existing high yield bonds and for general corporate purposes (including acquisitions).

Represented Stora Enso Oyj in connection with its debut green bond issue under its €4 billion euro medium-termnote programme. The bonds were issue in three tranches of SEK1.250 billion Floating Rate Green Notes due February 2024, SEK3 billion Floating Rate Notes due August 2021 and SEK1.750 billion 1.875% Green Notes due 20 February 2024. The total aggregated principal amount of the transaction is SEK6 billion. The proceeds will be used to finance the Issuer's acquisition of forest assets which are 100% certified to sustainable forestry. DNB, Nordea and SEB acted as joint bookrunners for the transaction. The bonds are listed on the Luxembourg Stock Exchange.

Represented Gambling.com Group Plc as Issuer on the issuance of its up to EUR 25,000,000 senior secured notes due 2021. Gambling.com Group Plc is a multi-award winning provider of digital marketing services for the global iGaming industry.

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).

Represented 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.

Represented 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 governed by Swedish law. Ovako, which develops high-tech steel solutions, 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.

Represented Ukraine in relation to its issuance of US$3 billion 7.375 per cent. notes due 2032 in conjunction with a tender offer for its existing notes due 2019 and 2020. The issuance was the first stand alone Eurobond since the Ukraine's sovereign debt restructuring in 2015 and paves the way for further access to the capital markets in future. BNP Paribas, Goldman Sachs and JPMorgan acted as joint lead managers on the transaction.

Representing Atlas Copco AB (publ) in connection with the update of its US$3 billion euro medium-term note programme and subsequent offering of €500 million 0.625% notes due 2026 under the programme and the related redemption of its outstanding 5.60% notes due 2017. The notes were issued at a record low coupon in the European corporate bonds market.

Representing FSN Capital in relation to the issue by its wholly owned subsidiary Velcora Holding AB (publ) of its SEK 525 million Senior Secured Callable Floating Rate Bonds due 2021 for the purposes of acquiring Roplan Holding AB, a Swedish industrial parts manufacturer.

Representing Nordax Bank AB and its majority shareholder, Vision Capital, and in Nordax Bank’s SEK 2.59 billion initial public offering and listing on Nasdaq Stockholm.

Representing SEB and Danske Bank as joint bookrunners on the issue by Hoist Kredit AB (publ) of its €100 million senior unsecured floating rate notes.

Representing Nordic Capital on the financing of its acquisition of Israeli media solutions company Vizrt Ltd. through a reverse triangular merger, by the issue of USD 113,300,000 senior secured bonds due 2021 issued by a Norwegian finance vehicle.

Representing SSAB AB (publ), the Swedish Steel company, on the update of its Swedish MTN and EMTN programmes and the issue of SEK 1,500 million and EUR 350 million bonds thereunder in connection with its combination with Rautaruukki Oyj valued at SEK 10.1 billion.

Representing 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.

Representing 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.

Representing BofA Merrill Lynch, Deutsche Bank, UBS Investment Bank, Citigroup and Goldman Sachs International as Joint Lead Managers in connection with the issuance and Reg S offering of EUR 500 million 1.375% Guaranteed Notes due in 2019 of PZU Finance AB (publ), a financial vehicle of PZU S.A., Poland's largest insurance company in terms of gross written premiums.

Representing Solidium, a Finnish sovereign wealth fund, on its issue of €600 million 0.5% exchangeable bonds due 2015, exchangeable into shares of TeliaSonera AB.

Publications

Getting the Deal Through, Debt Capital Markets, Sweden (2016), (co-author)