London - Leading global law firm Mayer Brown has advised Nordic Mines on the restructuring of the project finance facilities provided by its lenders.
The restructuring, which included the write-down of lender debt from EUR 45.1 million to EUR 12.5 million, is of strategic importance as it will enable Nordic Mines to reopen its Lavia operations in Finland — a mine that has historically produced over two tons of gold. In 2011, Mayer Brown advised Nordic Mines on the original project financing in respect of the gold mine in Finland.

Rachel Speight, Banking & Finance partner at Mayer Brown, said: “This deal raised a number of challenges due, in particular, to Nordic Mines' corporate structure, which spans Sweden and Finland, along with the fact that the finance documents are governed by English law. The complexities raised by cross-border issues of this sort are regularly encountered by our finance and restructuring teams and, having worked on the original project finance for the Lavia mine we were well attuned to the needs of the client and were delighted to assist them in relation to this transaction.”

London Banking & Finance partner at Mayer Brown, Rachel Speight, led the advising team, which included co-head of the London Restructuring, Bankruptcy & Insolvency team Ashley Katz and Banking & Finance senior associate Danuta Rychlicka.

Candra Torebring from Swedish firm Gernandt & Danielsson and Robin Nordblad from Finnish firm Dittmar Indrenius advised Nordic Mines on restructuring issues.