White & Case advises CTS Group on inaugural SEK 1.3 billion bond issuance

Global law firm White & Case LLP has advised Circular Tire Service Europe Holding AB (CTS Group), a portfolio company of Norvestor Advisory (Norvestor), on the issuance of its inaugural SEK 1.3 billion senior secured bonds.

Net proceeds from the bond issue will be used to refinance existing debt, finance add-on acquisitions and for general corporate purposes. The deal also includes a SEK 200 million revolving credit facility.

CTS Group is an independent tyre service company in the Nordics and Poland that provides services to commercial vehicle operators. Norvestor is a private equity firm focused on investments in growth companies in the Nordic mid-market.

The White & Case team in Stockholm which advised on the transaction was led by partners Michael Bark-Jones, Shoan Panahi and Oscar Liljeson and included associates Sebastian Wallin, Alexander Berlin-Jarhamn, Daniel Agnemyr, Karl Nordlin, Erik Holm, Ebba Wingren and Vilhelm Oxhammar.

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