Corral Petroleum Holdings AB (publ) (“Corral”), the parent company of Preem AB (publ) (“Preem”), has issued Senior PIK Toggle Notes consisting of SEK-notes with a principal amount of SEK 500 million and EUR-notes with a principal amount of EUR 570 million.

The notes fall due 2021 and were issued as a part of a larger refinancing also including Preem’s bank debt. Corral is the largest oil refining company in the Nordic region.

Gernandt & Danielsson advised the Initial Purchasers, led by Deutsche Bank AG, London Branch, with a team mainly consisting of Partners Carl Westerberg och Candra Torebring, Senior Associates Richard Ramberg and Henrik Appelqvist, and Associates Simon Söderholm, Karin Källström and Fredrik Haräng.