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Derling Primus Advises Nortal on EUR 50 Million Bond Issue

Derling Primus Advises Nortal on EUR 50 Million Bond Issue

Estonia
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Derling Primus has advised Nortal on its EUR 50 million bond issue.

Nortal’s bonds were issued with five-year maturity and 4.75% coupon rate. 75% of the bonds were subscribed for by institutional investors from Finland, Sweden, and Norway, and 25% from investors and pension funds from Latvia, Estonia, and Continental Europe.

For the bond issue, Pareto Securities AB acted as the global coordinator and the sole bookrunner, Nordic Trustee Oy acted as the agent on behalf of the bondholders and Roschier Advokatbyrå AB acted as the lead legal counsel.

Nortal is a strategic change and technology company. According to Derling Primus, "combining the unique experience of transforming Estonia into a digital leader and creating change in businesses with a strategic approach and data-driven technology, Nortal’s vision is to build a seamless society. Nortal is present in ten countries and employs over 800 specialists who carry out high-impact projects across Europe, Middle East, Africa, and North America." Several years ago Derling Primus Derling advised the company on its buy-back of 50% of the group’s shares from the Enterprise Investors investment fund and LHV Pension Funds, regaining full ownership of the company (as reported by CEE Legal Matters on September 16, 2016).

Derling Primus's team on the bond issue was led by Partner Andres Siigur and included Senior Associate Piret Luiga and Junior Associate Liis Venelaine.

Derling did not reply to our inquiry about counsel for the banks on the bond issuance.

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