Mandate

Vinge advised Baseload Capital in connection with the company’s new financing of approximately SEK 500 million

October 25, 2022 Banking and Finance M&A

Vinge has advised Baseload Capital Holding AB in connection with a financing round of approximately SEK 500 million. The financing consists of (i) the issuance of convertible debentures of USD 24 million to current and new investors and (ii) a convertible term facility of EUR 25 million from Sustainable Development Capital (SDCL) to finance development of current and future geothermal energy facilities.

The current shareholders which participated in the financing round are Gullspång Invest, Chevron Technology Ventures – the venture arm of Chevron, one of the world’s largest energy companies – and Breakthrough Energy Ventures – a company founded by Bill Gates to invest in technologies needed to reach net-zero emissions by 2050. New investors which participated are energy technology company Baker Hughes and the Nordic Environment Finance Corporation (Nefco), the Nordic Green Bank.

Baseload Capital works with financing, planning and building of international projects for renewable energy, primarily within geothermal energy, i.e. heat from the Earth’s interior. As geothermal energy functions independently of the weather or daily fluctuations, it is well suited for supplying large energy systems with a so-called base load. In addition to base power, the subsurface water can also be used to extract minerals such as lithium, creating an ecosystem of added benefits for the planet.

Vinge’s team consisted primarily of Maria Dahlin Kolvik and Måns Håkanson (M&A) as well as Louise Brorsson Salomon, Arvid Weimers and Jolinn Uhlin (Finance)

Related

Vinge has advised SBB and Sveafastigheter in connection with an exchange offer

Vinge has advised Samhällsbyggnadsbolaget i Norden AB (SBB) and Sveafastigheter AB in connection with an exchange offer directed to investors in SBB’s outstanding bonds, whereby investors exchanged senior and hybrid bonds in SBB for new senior bonds issued in Sveafastigheter AB. The existing bonds were partly issued under SBB’s EMTN programme, partly on a standalone basis. Following the transaction, the investors have been slotted in under Swedish bond terms on a standalone basis.
July 09, 2024

Vinge advises Polar Structure AB in connection with its issuance of EUR 81 million senior secured notes through a majority owned subsidiary

Vinge advises Polar Structure AB, a leading developer and owner of infrastructure, in connection with its issuance of EUR 81 million senior secured notes through a majority owned subsidiary. The proceeds will be used to finance the construction of a railway outside Boden, which will connect the existing iron ore line (Sw. Malmbanan) with H2 Green Steel’s new facility for large-scale production of green steel at Boden Industrial Park.
July 04, 2024

Vinge advises Bergs Timber AB (publ) and Bitus A

Vinge advises Bergs Timber AB (publ) and Bitus AB in connection with the divestment of the Fågelfors pellets business to J. Rettenmeier & Söhne. The Fågelfors pellets factory is based in Fågelfors in Högsby. The acquisition is subject to customary regulatory approvals.
July 03, 2024