Corporate Finance
Whitecase
Full Credential Description
Metso Corporation faced the challenge of managing its existing debt while seeking to optimize its capital structure. To address this, the company engaged White Case LLP for assistance with a significant financial transaction. The tailored solution involved the issuance of a €300 million bond with a 3.750% interest rate, due in May 2032, under its euro medium term note (EMTN) programme. This issuance was strategically paired with a cash tender offer of approximately €130 million for its existing €300 million bond that was set to mature in 2027. The proceeds from the new bond issuance were earmarked for the repayment of some of Metsos existing indebtedness related to the tender offer, refinancing existing debt, and supporting general corporate purposes. This dual approach not only streamlined Metsos debt obligations but also positioned the company for improved financial flexibility moving forward. The bond was successfully listed on the Luxembourg Stock Exchange, indicating a positive reception in the capital markets. The transaction was managed by a team of financial institutions, including Citigroup, Commerzbank, Nordea, and SEB, which acted as joint lead managers, further enhancing the credibility and execution of the bond issuance.