Ocorian has completed the previously announced acquisition of Nordic Trustee, which offers trustee and agency services for bonds and direct lending in the Nordic region.
The financial terms of the deal, which was first announced in June this year, were not disclosed.
The deal is part of Ocorian’s strategy to further build our capital markets offering.
Nordic Trustee CEO Cato Holmsen will continue to lead the firm, whose current management team will also remain in place.
The team will continue to manage Nordic Trustee’s business and secure the company’s role as an independent bond trustee and loan agent across the region with offices in Oslo, Stockholm, Copenhagen and Helsinki.
Ocorian chairman and CEO Frederik Tuyll remarked that Nordic Trustee is highly complementary to the company’s existing global network.
Tuyll added: “We are looking forward to working with Cato and the whole team to give our clients the opportunity to tap into the fast-growing Nordic bond and direct lending markets.
“The transaction also significantly expands the breadth and depth of solutions that Nordic Trustee can offer its clients including expansion outside the Nordic region.”
Holmsen added: “This is great news for our clients and everyone at Nordic Trustee. We share a single-minded focus on building long term client relationships founded on excellent client service, something which both Nordic Trustee and Ocorian are renowned for.
“We are looking forward to being part of Ocorian to support our clients’ needs, now and in the future.”
Founded in 1993, Nordic Trustee runs more than 3,000 running assignments in the non-bank lending sector for over 850 issuers and borrowers spread across 30 countries.
The firm also offers bond reference data, pricing information and indexes to institutional investors through its proprietary platforms Stamdata, Nordic Bond Pricing and eFIRDS.