References/21 Mar 2023
Borenius advised Pihlajalinna Plc on its EUR 20 million issue of hybrid capital securities
We advised Pihlajalinna Plc on its issuance of EUR 20 million hybrid capital securities. The hybrid capital securities will bear fixed interest rate of 12.00 percent per annum until 27 March 2026, and after that a floating interest rate as defined in the terms and conditions of the hybrid capital securities.
Danske Bank A/S acted as lead manager for the issuance and Nordhaven Corporate Finance Oy acted as financial advisor for Pihlajalinna.
“I am very pleased with the investor demand for this transaction despite the exceptional market conditions. I want to thank the investors for their trust in Pihlajalinna. The transaction supports the company’s capital structure and strategy execution,” says Mikko Wirén, interim CEO of Pihlajalinna.
Pihlajalinna is one of the leading providers of private healthcare and wellbeing services in Finland. The Group produces doctor’s appointment services and specialised care, occupational healthcare and oral healthcare services, and residential and welfare services. In 2022, Pihlajalinna’s revenue was 690.5 million euros and the number of personnel over 7,000.
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