The Underwriters – We Advised the Underwriters in Outokumpu’s Rights Issue

Castrén & Snellman advised Danske Bank, Nordea and SEB as joint global coordinators and joint bookrunners and BNP Paribas, Crédit Agricole, J.P. Morgan and Swedbank as joint bookrunners in Outokumpu’s rights issue of approximately EUR 665 million. All banks also acted as underwriters. The rights issue was successfully completed and oversubscribed by 23%.

The rights issue was a part of Outokumpu’s measures to deleverage and strengthen its balance sheet. Other measures included the divestment of Outokumpu’s Terni facility in Italy and its high performance alloy business (VDM) to ThyssenKrupp as well as extensive debt financing arrangements.