Noerr advises Mutares on increase of its existing bond (Nordic bond) to EUR 250 million

Noerr has advised SDAX-listed private equity investor Mutares SE & Co. KGaA on the successful increase of its secured bond (so-called Nordic bond) to a volume of EUR 250 million. The bond with a volume of EUR 100 million were placed with institutional investors. 

The bond, issued under Norwegian law, is traded on the Open Market of the Frankfurt Stock Exchange and in the Nordic ABM segment of the Oslo Stock Exchange and matures in March 2027. The net proceeds to Mutares from the increase will be used for general corporate purposes and further portfolio growth, including the financing of further acquisitions.

As an active investor, Mutares specializes in the acquisition and realignment of companies and parts of the Group with operational development potential. Based on an acquisition pipeline with a current total sales volume of approximately EUR 18 billion, Mutares intends to increase consolidated sales to approximately EUR 7.0 billion by 2025 and to approximately EUR 10.0 billion by 2028.

Mutares' bond is currently the largest Nordic bond of a German issuer. Mutares again relied on a Noerr team led by partners Julian Schulze De la Cruz and Ralph Schilha to provide legal advice on the increase of the bond and the preparation of the collateral documentation. The team had already advised on the original issue and placement of the initially EUR 100 million bond (including a public exchange offer for an EUR 80 million existing bond) as well as its first increase by EUR 50 million in May 2023.

Noerr regularly advises Mutares on stock corporation and capital markets law and had already advised the company, inter alia, on its successful capital increase with uplisting to the regulated market (Prime Standard) of the Frankfurt Stock Exchange, the successful placement of several bonds and the conversion of its legal form into a partnership limited by shares (KGaA).

Advisor Mutares SE & Co. KGaA: Noerr Partnerschaftsgesellschaft mbB

Lead: Julian Schulze De la Cruz (Partner, Capital Markets, Frankfurt), Ralph Schilha (Partner, Corporate, Munich)

Capital Markets: Dominik Kloka (Partner), Sebastian de Schmidt (Counsel), Thomas Thies (Senior Associate), Cara Kleine-Jäger (Associate, all Frankfurt), Jan Lohse (Associate, Hamburg)

Banking and finance law: Alexander Schilling (Partner), Patrick Geist (Senior Associate, both Frankfurt)

Digital Business: Tom Billing (Partner, Berlin)

Data Protection: Pascal Schumacher (Partner, Berlin)