case / 31 Mar 2021

Setterwalls has assisted Maha Energy AB in connection with a term loan financing and an equity financing for total proceeds of approximately SEK 610 million

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Setterwalls has assisted Maha Energy AB, listed on Nasdaq Stockholm, in connection with a USD 60 million term loan financing and a USD 10 million equity financing with the Brazilian investment bank BTG Pactual S.A.

The financing consists of a four-year senior secured term loan of USD 60 million and a USD 10 million equity private placement through the issuance of 7,470,491 new shares, at a price of SEK 11.59 per share. The USD 60 million term loan will be amortized in stages over the 4 year period commencing 15 months after closing of the loan agreement.

Subject to completion, the net proceeds from the financing will be used to refinance Maha’s SEK 300 million bond debt due on 29 May, 2021, finance capital expenditures across Maha’s asset portfolio and general corporate purposes.

Pareto Securites AS is acting as financial advisor to Maha in conjunction with the financing.

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