Borenius advised Normet Group Ltd. on its EUR 30 million issue of capital securities and the tender offer of its 2020 capital securities

We advised Normet Group Ltd. on its EUR 30 million issue of capital securities and on the tender offer of its EUR 35 million 2020 capital securities. The new capital securities bear interest at a fixed interest rate of 9.250 per cent until the reset date of 19 June 2025 and thereafter, at a floating interest rate as described in the terms and conditions of the capital securities.

The net proceeds of the issuance will be used for financing the tender offer of the company’s outstanding EUR 35 million capital securities issued in 2020, to proactively manage upcoming maturities and strengthen the company’s balance sheet. The aggregate nominal amount of the 2020 capital securities accepted for purchase pursuant to the tender offer was EUR 27,740,000 million.

Nordea Bank Abp acted as the lead manager for the issuance and as the dealer manager and the tender agent for the tender offer.

Normet Group is a globally operating Finnish technology company that offers underground construction and mining processes. Headquartered in Finland, it employs over 1,700 professionals in more than 50 locations in 30 countries around the world. Its revenue was EUR 439 million in 2022.