Linklaters advises on a trio of high yield and leveraged financings for Triton

A cross-practice and cross-jurisdictional Linklaters team has advised Triton portfolio companies on three significant financing transactions in the first half of 2023, including two high yield bond deals and a committed public-to-private acquisition financing.

Linklaters advised Stockholm-based portfolio company Assemblin on a €480 million high yield bond and €180 million revolving/guarantee/pension facilities. The proceeds of the bond were used to refinance existing debt and an acquisition bridge related to Assemblin’s transfer to a Triton continuation fund. Assemblin is a leading Nordic technical installation/services company focused on specialist services - primarily within Electrical, Heating & Plumbing, and HVAC.

Linklaters also advised Italian-based portfolio company Bormioli Pharma on a €380 million high yield bond and €65 million revolving credit facility. The proceeds of the bond were used to refinance existing debt. Bormioli Pharma is a leading European pharma primary packaging manufacturer.

Earlier in the year, Linklaters also acted for Triton and Crayfish Bidco on a committed leveraged financing for the €1.22 billion recommended tender offer for all of the issued and outstanding shares in Caverion. Headquartered in Helskini and listed on Nasdaq Helsinki, Caverion designs, implements, and maintains building technology and industrial services.

The Linklaters teams were led by Banking partners Alek Naidenov, Tom Waller and Diego Esposito and included Marco Carrieri (Milan counsel), Arthur Klintred (Stockholm counsel), David Adler, Victoria Dodev, Dami Banire, Alex Bednar and Kimberly Martin (US HY Associates) and Monish Kulkarni, Shruti Subramaniam and Azura Wicaksono (UK Banking associates).