Wiersholm has assisted on a refinance solution for Archer

<p>oil, energy</p>

The well company Archer has successfully reached an agreement in principle on a refinancing solution.

The refinancing solution consists of a private placement of new shares with gross proceeds of USD 100 million, a new senior 1st lien bank facility of USD 260 million, and a fully backstopped 2nd lien bond issue of USD 200 million and conversion of a convertible bond.

Wiersholm has acted as legal advisers to the managers in relation to the private placement and the bond issue. Wiersholm’s team has consisted of Sverre Sandvik, Kristine Hasle, Karl Magnus Ulstein-Rygnestad and Eirik Heggenes Lauvstad.