Baker & McKenzie has advised multi-metals business Nyrstar on a EUR600 million comprehensive strategic financing package announced on 1 September 2014 and completed on 30 September 2014. It is one of the largest capital markets transactions by a Belgian issuer this year. The financing package consisted of the following transactions:

• An international offering by Nyrstar Netherlands (Holdings) B.V., a subsidiary of Nyrstar NV, the listed parent company of the Nyrstar group, of EUR350 million of 8½% senior notes due 2019 in the high yield bond market
• A EUR251.6 million offering of new shares by Nyrstar NV through a rights offering
• A EUR247.6 million tender offer by Nyrstar Netherlands (Holdings) B.V. for outstanding retail bonds issued by Nyrstar NV

Nyrstar is an integrated mining and metals business, with market leading positions in zinc and lead, and growing positions in other base and precious metals. Nyrstar has mining, smelting, and commercial operations located in Europe, the Americas, China and Australia and employs approximately 6,500 people. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on Euronext Brussels.

Goldman Sachs International acted as sole global coordinator for the respective transactions. Goldman Sachs and The Royal Bank of Scotland acted as joint bookrunners of the notes offering. Goldman Sachs International and KBC Securities acted as joint bookrunners of the rights offering, and Goldman Sachs, KBC Bank and BNP Paribas Fortis acted as dealer managers of the tender offer.

The transactions were led by partners Roel Meers and Adam Farlow coordinating a team of lawyers in Brussels, London, Amsterdam, Frankfurt, Luxembourg, Mexico City, Paris, Sydney, Toronto, and Zurich. Roel Meers said , “We are proud to have been able to act for Nyrstar on this landmark deal.” Adam Farlow added, “It shows the expertise and capability of our European capital markets practice to manage a complex combination of cross-border capital markets transactions across multiple jurisdictions.”

Baker & McKenzie has worked with Nyrstar since its IPO in 2007, and acted on Nyrstar’s previous capital markets transactions.