Debt restructuring for Metro (LU) — SEK 1.4 billion

Carnegie acted as adviser in connection with Metro’s substantial debt restructuring, where most of Metro’s outstanding interest bearing debt was exchanged for equity. SEK 252 million was raised through a rights issue and an additional SEK 1.151 million was raised through a directed issue, where Kinnevik and MTG converted the interest bearing liabilities into equity.August, 2003.