Pihlajalinna – Reorganisation of long-term debt

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We acted as legal adviser to Pihlajalinna Plc in a finance arrangement where Pihlajalinna signed a five-year, EUR 120 million unsecured financing arrangement with Danske Bank and Nordea Bank. The arrangement comprises a revolving credit limit and long-term loan. It also includes an opportunity to increase the total amount by EUR 60 million (to EUR 180 million), subject to separate decisions on a supplementary loan from the funders. The unsecured revolving credit facility that is intended for the group’s general funding needs and acquisitions replaces the unsecured EUR 60 million revolving credit facility, which was signed in September 2015. The financing arrangement includes customary covenants. 

Danske Bank serves as the agent for the loan arrangement.