Atlas Copco pioneers €300 million notes issuance with White & Case's guidance
Deal News | Apr 03, 2025 | White & Case LLP
Global law firm White & Case LLP has successfully advised Swedish-based industrial tools and equipment company, Atlas Copco AB, on two significant financial transactions. The first involved the issuance of €300 million 3.500% notes due in 2035 under Atlas Copco's $6 billion Euro Medium Term Note programme. This new issuance is intended for general corporate purposes and was managed by leading banks Citigroup, Danske Bank, and SEB. In conjunction with this issuance, White & Case also guided Atlas Copco through a tender offer targeting up to €250 million of its existing €500 million 0.625% notes due in 2026, with Citigroup and SEB acting as dealer managers. The issuance and tender offer highlight Atlas Copco's strategic financial maneuvers to manage its debt efficiently. White & Case provided insightful legal advice under both English and Swedish law through a team led by partner Michael Bark-Jones, along with associates Siavash Saberian and Nicklas Sjolund from their Stockholm office.
Sectors
- Corporate Finance
- Legal Services
- Industrial Equipment
Geography
- Sweden – Atlas Copco is headquartered in Sweden and the financial activities discussed are crucial for its operations.
- Global – The issuance under the Euro Medium Term Note programme and the involvement of international financial institutions highlight the global aspect of the transaction.
Industry
- Corporate Finance – The article discusses Atlas Copco's issuance of €300 million notes and a financial strategy involving a tender offer, critical components of corporate finance activities.
- Legal Services – White & Case provided legal advisory services to Atlas Copco, guiding them through complex legal matters related to the notes issuance and tender offer.
- Industrial Equipment – Atlas Copco is a key player in the global industrial tools and equipment market, and their financial activities are crucial for their continued operation and growth.
Financials
- 300 million – The value of the notes issued by Atlas Copco due in 2035.
- 250 million – The value targeted in Atlas Copco's tender offer for its existing notes.
- 500 million – The total original value of the 0.625% notes due in 2026, for which up to 250 million is being tendered.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Atlas Copco AB | Issuer | Company | A Swedish global industrial tools and equipment company leading the issuance of notes. |
| White & Case LLP | Legal Advisor | Company | Global law firm providing legal advice to Atlas Copco for the transaction. |
| Citigroup | Joint Lead Manager & Dealer Manager | Company | Acted as joint lead manager for the notes issuance and dealer manager for the tender offer. |
| Danske Bank | Joint Lead Manager | Company | Participated as a joint lead manager for the notes offering. |
| SEB | Joint Lead Manager & Dealer Manager | Company | Acted as joint lead manager for the notes issuance and dealer manager for the tender offer. |
| Michael Bark-Jones | Partner | Person | Led the White & Case advisory team in Stockholm. |
| Siavash Saberian | Associate | Person | Part of the White & Case team advising the transaction. |
| Nicklas Sjolund | Associate | Person | Part of the White & Case team advising the transaction. |