Krogerus advised HKScan Corporation on the private placement of a new EUR 40 million hybrid bond.
A hybrid bond is an instrument that is subordinated to certain other debt obligations and is treated as equity in the issuer's consolidated financial statements. This marked the first offering to institutional and retail investors of a hybrid bond in Finland since the entry into application of MiFID II and the PRIIPs Regulation.
HKScan is a leading Nordic meat and meals company whose shares trade on Nasdaq Helsinki. It has annual net sales of roughly EUR 1.8 billion and employs some 7,300 persons.
The Krogerus team, led by partner Tom Fagernäs, included senior associate Paul Raade and associate Joel Kanervo.