NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (the "United States") OR TO ANY U.S. PERSON. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES, THE UNITED KINGDOM, FRANCE, BELGIUM AND ITALY) MAY BE RESTRICTED BY LAW.
New Issue Transaction
Klövern AB (publ) has successfully issued senior unsecured bonds in the total amount of SEK 1,500 million under a framework amount of SEK 1,500 million. The bonds have a tenor of four years and a floating interest rate of three-months STIBOR + 390 basis points with final maturity in November 2020 (the "New Issue Transaction").
The issue proceeds will mainly be used for general corporate purposes, including acquisitions and refinancing of Klövern's outstanding January 2017 bonds. Klövern will apply for the new bonds to be listed on Nasdaq Stockholm's Corporate Bond List.
Furthermore, Klövern announces today the final results of its invitation to holders (the "Holders") of its outstanding SEK 1,150 million FRN bonds due 19 January 2017 (ISIN: SE0004868453) (the "January 2017 bonds") to tender their January 2017 bonds for cash (the "Tender Offer").
The Tender Offer expired at 17:00 CET on 25 October 2016. Klövern hereby informs Holders that the aggregate principal amount of January 2017 bonds validly tendered for purchase by Holders was SEK 720 million.
The New Issue Transaction has been successfully completed, and hence Klövern will accept all valid tender instructions pursuant to the Tender Offer in full. A tender instruction is only valid if the Holder has participated in the New Issue Transaction.
The purchase price of the validly tendered January 2017 bonds is 100.250 per cent. of the nominal amount. Klövern will also pay any accrued and unpaid interest from, but excluding, the preceding interest payment date until, and including, the relevant settlement date.
Settlement for the Tender Offer is set to 2 November 2016. Settlement of the transactions pursuant to the Tender Offer will occur as a secondary trade via the Dealer Managers. All tendering Holders shall immediately coordinate the trade booking with their local sales person at their pre-selected Dealer Manager.
Klövern will make an early redemption of the January 2017 bonds not being tendered in the Tender Offer described above. A call notice will be sent out separately in accordance with the Terms & Conditions for the January 2017 bonds dated 19 October 2012. The January 2017 bonds will in an early redemption be redeemed at a price equal to 100.000 per cent. of the nominal amount (plus any accrued and unpaid interest from, but excluding, the preceding interest payment date until, and including, the relevant early redemption date).
Nordea Bank AB (publ) and Swedbank AB (publ) have been financial advisers and Joint Bookrunners in connection with the new bond issue and joint Dealer Managers in connection with the Tender Offer. MAQS Advokatbyrå and Gernandt & Danielsson Advokatbyrå KB have been legal advisers.
Joint Bookrunners and Dealer Managers:
Nordea Bank AB (publ)
Tel: +45 6161 2996
Swedbank AB (publ)
Tel: +46 8 700 90 22
Klövern AB (publ)
For additional information:
Rutger Arnhult, CEO, +46 70-458 24 70, email@example.com
Lars Norrby, IR, +46 76-777 38 00, firstname.lastname@example.org
Klövern is a real estate company committed to working closely with customers to offer them efficient premises in Swedish growth regions. Klövern is listed on Nasdaq Stockholm. For further information, see www.klovern.se .
Klövern AB (publ), Bredgränd 4, 111 30 Stockholm. Phone: +46 8-400 500 50. E-mail: email@example.com.
This information is information that Klövern AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 15:30 CET on 26 October 2016.