14 September 2023
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) announces issue of new senior unsecured green notes and final tender results for certain senior unsecured notes
Stendörren Fastigheter AB (publ), (“Stendörren” or the “Issuer”) today announces the final results of its invitation dated 11 September 2023 to the holders of its outstanding notes outlined below (together, the “Notes”) to tender their Notes for purchase by the Issuer for cash (the “Tender Offer”).
The Tender Offer was made on the terms and subject to the conditions set out in a tender information document dated 11 September 2023 (the “Tender Information Document”), available on the website of the Issuer: https://www.stendorren.se/en/investors/reports-and-presentations/.
At the expiration of the Tender Offer at 12:00 CET on 14 September 2023, valid tender instructions of SEK 463,750,000 in an aggregate nominal amount of Notes were received pursuant to the Tender Offer. Details of tendered amount are set out below.
The Issuer furthermore announces that the New Financing Conditions (as defined in the Tender Information Document) have been met and that a total nominal amount of new senior unsecured green notes of SEK 500,000,000 with a maturity of 3.25 years have been successfully issued (the “New Notes”). The interest rate for the New Notes is 3m STIBOR + 525bps.
All valid tender instructions received pursuant to the Tender Offer have been accepted for purchase by the Issuer. The Notes repurchased will be retained by the Issuer and will not be cancelled. Following the completion of the Tender Offer Stendörren will hold Notes in a total amount of SEK 463,750,000.
The purchase price payable per Note is as set out below, in addition to which the Issuer will pay an amount equal to any accrued and unpaid interest on the relevant Notes (in accordance with the applicable terms and conditions of the Notes):
Description of the Notes / ISIN / Accepted Tender Amount / Purchase Price
2021/2024 Senior Unsecured FRN / SE0015503545 / SEK 463,750,000 / 101.460%
Settlement of the Tender Offer will occur on or around 21 September 2023. Settlement of the transactions pursuant to the Tender Offer will occur as a secondary trade via Danske Banks A/S, Danmark, Sverige Filial, Nordea Bank Abp and Swedbank AB (publ) the “Dealer Managers”). All tendering Bondholders should coordinate the trade bookings with their local sales representative immediately.
Information about the Tender Offer may be obtained from the Dealer Managers.
Danske Bank A/S, Danmark Sverige Filial
Nordea Bank Abp
Stendörren Fastigheter AB (publ)
Erik Ranje, CEO Per-Henrik Karlsson, CFO