Ropes & Gray advised the initial purchasers on Intrum AB’s offering of €600 million senior notes. Intrum is the largest full-service European credit management company, with operations in 25 countries, and this transaction represents its first foray into the high yield bond market since the beginning of the COVID-19 pandemic. The Ropes & Gray team included partner Michael Kazakevich and associate Luwam Mezue.
This transaction, which priced on 24 July and closed on 5 August, adds to Ropes & Gray’s growing track record of successfully advising underwriters on high yield bond transactions and builds on its market leading issuer side practice. Ropes & Gray also has a long standing history with Intrum, having acted for the initial purchasers in connection with the leveraged buy-out of Lindorff by Nordic Capital and on multiple financing transactions in connection with and following Intrum’s merger with Lindorff in 2017.
The Ropes & Gray London finance team has closed over 30 transactions so far in 2020, representing both issuers and underwriters, raising over $18 billion in gross proceeds.
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