The hybrid bond will strengthen Ahlstrom’s capital structure. The arrangement also will abrogate the effect of the dividend payment restrictions related to the reduction of the gearing ratio that were included in the EUR 200 million revolving credit facility agreement signed in July 2009. A hybrid bond is an instrument that is subordinated to the company's other debt obligations and is treated as equity in the IFRS financial statements. Hybrid bonds do not confer to their holders the right to vote at shareholder meetings and do not dilute the holdings of the current shareholders. The lead manager of the bond issue was Nordea Markets.