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) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW.
Stendörren Fastigheter AB (publ) (the “Issuer” or “Stendörren”) has mandated Danske Bank, Nordea and Swedbank as joint bookrunners to arrange investor meetings to investigate the possibility to issue new SEK denominated subordinated capital securities with perpetual maturity and which will be treated as equity in Stendörren’s accounting (the “New Capital Securities“). Subject to market conditions, a transaction will follow.
In connection with the issue of the New Capital Securities, Stendörren is offering holders of the Issuer’s outstanding senior unsecured floating rate notes maturing on 5 July 2020 with ISIN SE0010023564 and outstanding amount of SEK 710,000,000 (the “Notes”) to tender up to SEK 710,000,000 for purchase by the Issuer for cash (the “Tender Offer”) at a price of 102.20% of the nominal amount. Notes will be repurchased subject to the terms and conditions described in a tender information document dated 3 September 2019.
The tender information document can be found under Investor Relations – Rapporter och presentationer on Stendörren’s webpage, www.stendorren.se.
The Tender Offer expires at 12:00 CEST on 11 September 2019, unless extended, re-opened, withdrawn or terminated at the sole discretion of the Issuer. Settlement of the Tender Offer is expected to occur at or around 18 September 2019. The Issuer’s repurchase of Notes is conditional upon a successful issue of the New Capital Securities.
Conditional upon the consummation of an issue of the New Capital Securities, Stendörren intends to exercise its right to make a voluntary early redemption of the Notes not being tendered in the Tender Offer, in accordance with the terms & conditions in respect of the Notes dated 30 June 2017. The Notes will in an early redemption event be redeemed at a price equal to 102.00 per cent. of the nominal amount (plus accrued and unpaid interest).
The Company has mandated Danske Bank, Nordea and Swedbank to act as dealer managers and joint bookrunners in connection with the issue of New Capital Securities and the Tender Offer and Mannheimer Swartling Advokatbyrå has been appointed as legal counsel.
Attachment: Tender information document.
This information is information that Stendörren Fastigheter 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 person set out above on 3 September 2019, at 16:00 CEST.
Stendörren Fastigheter AB (publ)
Stendörren Fastigheter AB (publ) is a real estate company listed on Nasdaq Stockholm, Mid Cap, which owns, manages and develops propertied that make a difference. As such, we work closely together with our tenants to provide practical and appropriate premises on competitive lease terms, primarily in Greater Stockholm and Mälardalen.
For more information about Stendörren Fastigheter AB (publ), visit: www.stendorren.se.