Noerr advises Mutares on the successful tap issue of its existing bond to EUR 70 million (Nordic bond)

Noerr has advised the investment company Mutares SE & Co. KGaA, listed on the Scale 30 index of Deutsche Börse, on the successful tap issue of its secured bond (so-called Nordic bond) to a volume of EUR 70 million. The tap issue with a volume of EUR 20 million was placed with institutional investors.

The tap issue was subject to the approval of the bondholders of the amendments to the bond terms proposed by Mutares on August 13, 2020. This approval was given on August 28, 2020, in a written procedure with the required majority of bondholders. The transaction was supported by the investment bank Pareto Securities.

The bond with a maturity of four years was issued under Norwegian law and is listed on the Open Market of the Frankfurt Stock Exchange and the Nordic ABM segment of the Oslo Stock Exchange.

As an active investor Mutares is specialized in the acquisition and realignment of companies and parts of companies with operational development potential. In 2019, Mutares' investments generated consolidated sales of more than 1 billion euros and employed more than 6,500 people worldwide.

Mutares relied on Noerr with a team led by partners Dr Julian Schulze De la Cruz and Dr Ralph Schilha to provide legal support for the tap issue and to prepare the security documentation. Noerr regularly advises Mutares on stock corporation and capital markets law and advised the investment company on the successful placement of the bond and the conversion of its legal form into a partnership limited by shares (KGaA).

Advisors to Mutares SE & Co. KGaA: Noerr LLP

Dr Julian Schulze De la Cruz (Capital Markets, Frankfurt), Dr Ralph Schilha (Capital Markets, Munich), Dr. Alexander Schilling (Banking & Finance, Frankfurt)

Patrick Geist (Banking & Finance), Sebastian de Schmidt (Capital Markets), Thomas Thies (Capital Markets, all Frankfurt)

Advisors on Norwegian law: Wikborg Rein