Ropes & Gray Advises the Initial Purchasers on Intrum AB’s EUR 600 Million Bond Offering
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 was led by London-based Finance partner Aditya Khanna, with partner Michael Kazakevich and associates Luwam Mezue, Daniela Mozetic and Oriyan Prizant.
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.
Aditya Khanna said of the deal: “Once again it has been a pleasure to work with the Intrum team and the initial purchasers on a financing transaction. Our continued representation of the banks on Intrum’s loan and high yield bond transactions highlights the trust that Intrum and its relationship banks have continued to place in us as we continue to strive to meet the challenging demands of our clients and deliver elite levels of service.”