Nordhaven advised Pihlajalinna in the issuance of a EUR 20 million hybrid bond

24 mar 2023

Nordhaven acted as financial advisor for Pihlajalinna Plc in the issuance of EUR 20 million hybrid capital securities ("hybrid bond").

Pihlajalinna is one of the leading providers of private healtcare and wellbeing services in Finland. In 2022, Pihlajalinna had revenues of 690.5 million euros and employed over 7,000 personnel. Pihlajalinna's shares are listed on Nasdaq Helsinki Oy. For more company information, please visit www.pihlajalinna.fi.

The hybrid bond is subordinated to the company's other debt obligations and will be treated as equity in Pihlajalinna's IFRS consolidated financial statements. The hybrid bond does not confer to its holders the rights of a shareholder and does not dilute the holdings of the current shareholders.

"I am very pleased with the investor demand for this transaction despite the exceptional market conditions. The transaction supports the company's capital structure and strategy execution. We thank Nordhaven for a well managed process on a tight timeline. Their holistic understanding of the issuance process was essential for us as a debut bond issuer. We are once again very satisfied with Nordhaven's work", says Mikko Wirén, interim CEO and founder of Pihlajalinna.

"It was a privilege to support Pihlajalinna in this transaction. We are grateful for Pihlajalinna's continuing trust in Nordhaven. The transaction is yet another proof of our Debt & Capital Advisory and healthcare sector capabilities", says Martti Purhonen, Partner at Nordhaven.

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