Noerr advises Mutares on the successful placement of a EUR 135 million bond (Nordic bond)

A Noerr team led by Julian Schulze De la Cruz and Ralph Schilha has advised SDAX-listed private equity holding Mutares SE & Co. KGaA on the successful placement of a collateralised, floating rate bond (so-called Nordic bond) with a volume of EUR 135 million.

The bond bears interest at a rate equal to EURIBOR (three months) plus a margin of 6.25% p.a. and can be increased to a total volume of up to EUR 300 million. The bond was placed in full with institutional investors.

The new bonds are to be included in trading on the open market of the Frankfurt Stock Exchange and the Nordic ABM of the Oslo Stock Exchange. The net proceeds received by Mutares from the bond issue are to be used primarily for general corporate purposes and further portfolio growth in the context of international expansion, in particular for financing further corporate acquisitions, as well as for repurchases of bonds under the existing bond with a volume of up to EUR 25 million as part of the placement.

Mutares is an international private equity investor focused on special situations and focuses on the acquisition and realignment of parts of large corporations (carve-outs) and companies in transitional situations. Group sales of EUR 5.7 billion to EUR 6.3 billion are expected for the 2024 financial year.

Mutares again relied on a Noerr team led by partners Dr Julian Schulze De la Cruz and Dr Ralph Schilha to provide legal support for the bond and the preparation of the collateral documentation. The team had already advised Mutares on the issue and increase of the existing bond totalling EUR 250 million, currently the largest Nordic bond of a German issuer. Noerr regularly advises Mutares on stock corporation and capital markets law.

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: Philip Schmoll (associated partner), Thomas Thies (senior associate)

Banking & Finance: Alexander Schilling (partner), Patrick Geist (senior associate, both Frankfurt)