Osborne Clarke (OC) has advised new AIM listed client, software group Corero plc (Corero), on a significant debt restructuring, which will enable the company to continue with its growth plans.

OC advised Corero on amendments to its convertible unsecured loan stock, including an extension of the term over which the loan stock is repayable and a reduction in the annual coupon paid on the loan stock until 2012, plus an associated capital reorganisation.

Conrad Davies, associate, Osborne Clarke, commented:

"Corero has built an excellent reputation in the business and education markets through its Business Systems Division. This debt restructuring will allow the company to make additional investment in its major applications in order to take advantage of further opportunities in those markets."

Corero was advised by Osborne Clarke associate Conrad Davies, assisted by solicitor Mark Wesker.

Date: 01 Jul 2009