Borenius advised PHM Group in connection with the issue of EUR 70 million senior secured floating rate notes

We advised PHM Group Holding Oyj as it issued new senior secured floating rate notes in an initial nominal amount of EUR 70 million. The new notes have an interest rate of 3-month EURIBOR plus 7.50% and they will mature on 19 June 2026.

The proceeds of the issue of the new notes will be used e.g. for the refinancing of drawings under PHM Group’s super senior revolving credit facility as well as for general corporate purposes, including acquisitions.

Nordea Bank and Pareto acted as joint bookrunners for the issue of the new notes.

PHM Group is a Nordic leader in the residential maintenance service market, and it is majority-owned by a Nordic private equity investor called Norvestor. PHM Group is present in Finland, Sweden, Norway and Denmark, and it has recently expanded its operations to Northern Germany.