17.3.2014

Lead arrangers and lenders – Castrén & Snellman Advised Financiers in Extensive Debt Financing Arrangements for Outokumpu Plc

Castrén & Snellman served as Finnish counsel for the banks acting as mandated lead arrangers and lenders in connection with extensive debt financing arrangements for Outokumpu Oyj. Outokumpu and the financiers agreed on, among other things, a revolving credit facility of EUR 900 million and on a liquidity facility of EUR 500 million. The mandated lead arrangers and lenders are Merchant Banking, Skandinaviska Enskilda Banken AB (publ), Nordea Bank Finland Plc, BNP Paribas, Crédit Agricole Corporate & Investment Bank, Danske Bank A/S, Helsinki Branch, J.P. Morgan Limited, Pohjola Bank plc, The Royal Bank of Scotland plc, Svenska Handelsbanken AB (publ), Branch Operation in Finland and Swedbank AB (publ).

In connection with the arrangement, we also assisted certain banks involved in the transaction in bilateral loan portfolio arrangements with Outokumpu, amounting to approximately EUR 600 million. In addition, we advised the banks in connection with the noteholders’ meetings that approved the amendment of the terms and conditions of Outokumpu’s notes due in 2015 and 2016 owing to the completed debt financing arrangements. We also acted as the financiers’ advisor in negotiating and drafting the security package given by the Outokumpu group for its debt and bond financing arrangements.