INEOS in refinancing transaction

Gernandt & Danielsson has acted as Swedish counsel to Kerling plc and INEOS Norway SPV Limited in connection with the refinancing of debt within the INEOS group (the world’s third largest chemical company).

Kerling plc has issued bonds up to EUR 785 million with maturity on 2017 and in connection therewith refinanced the existing loans within the INEOS group. The bonds and the revolving credit facility have been secured by assets within the INEOS group situated in five different jurisdictions, i.a. Sweden.

The funds raised through the bond issue will in addition to the refinancing of debts within the INEOS group, be used to restructure the INEOS group with the purpose of creating the Kerling group.

The Gernandt & Danielsson’s team consisted of partner Manfred Lövenhaft and partner Mikael Borg as well as the associates Björn Svensson, Malin Persson, Omar Berger and Jenni Garamvölgyi.