July 24, 2017
Intrum Justitia and Lindorff have announced the completion of their combination, creating a leading provider of credit management services with local presence in 23 markets across Europe. The merger follows a combination agreement entered into on 13 November 2016 and an approval from the European Commission on 12 June 2017.
In connection with the combination, Intrum Justitia issued EUR 3 billion (equivalent) of senior unsecured notes and entered into a EUR 1.1 billion revolving credit facility. The net proceeds of the notes, together with drawings under the revolving credit facility, were used to repay substantially all of the outstanding financings of Lindorff and the existing revolving credit facility of Intrum Justitia.
Latham & Watkins advised Intrum Justitia in the transaction with a London-based finance team led by partner Sam Hamilton, with partner Adrian Chiodo and associates Heeran Caselton, Ben Wright and Braden Sheps. Advice was also provided on capital markets matters by London partner Scott Colwell, counsel Brad Weyland and associates Courtland Tisdale and Hannah Alexander; on tax matters by London partner Karl Mah and associate James Dabell; on Spanish finance matters by Madrid counsel Fernando Colomina and associate Joaquin Fabre; and on German finance matters by Munich partner Andreas Diem.