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MAGNUSSON ADVISES GOTHENBURG ON US$ 500 MILLION EURO-COMMERCIAL PAPER PROGRAMME

2013-08-26

Magnusson advised the City of Gothenburg (the Issuer) on its US$ 500 million Euro-Commercial Paper Programme.

The Magnusson team was led by Björn Wendleby and included Miri Chiko-Radomski and Liselotte Calander.

Skandinaviska Enskilda Banken AB (publ) acted as the Arranger, while Barclays, Citigroup, Danske Bank, DNB Markets, Goldman Sachs International and SEB acted as the Dealers.

The City of Gothenburg’s finances are in excellent shape, with the credit rating from Moody’s since 2006 being the highest possible, Aaa, and from Standard & Poor’s since 2007 the next highest, AA+. Both ratings have stable outlook.

It is another major financing transaction on which Magnusson has recently advised the City of Gothenburg: in May 2013, the City was advised on a SEK 3 billion multicurrency revolving credit facility. Since Autumn 2012, Magnusson has been assisting the City of Gothenburg also on a number of other matters, following its victory in a tender for legal services declared by the City.

 

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