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Name | Symbol | Market | Type |
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Investor 22 | LSE:42BQ | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
TIDM42BQ
RNS Number : 3083F
Investor AB
16 May 2017
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.
(SEE "OFFER AND DISTRIBUTION RESTRICTIONS" BELOW)
16 May 2017
INVESTOR AB (PUBL) ANNOUNCES THE PRICING AND RESULTS OF ITS CASH TENDER OFFER FOR ITS EUR300,000,000 3.25 PER CENT. FIXED RATE NOTES DUE 17 SEPTEMBER 2018 AND ITS SEK500,000,000 5.25 PER CENT. FIXED RATE NOTES DUE 4 SEPTEMBER 2019
INVESTOR AB (publ) (the "Company") today announces the pricing and results of its tender offer in respect of its EUR300,000,000 3.25 per cent. Fixed Rate Notes due 17 September 2018 (ISIN: XS0542591580 / Common Code: 054259158) (the "2018 Notes") and its SEK500,000,000 5.25 per cent. Fixed Rate Notes due 4 September 2019 (ISIN: XS0450035661 / Common Code 045003566) (the "2019 Notes" and together with the 2018 Notes, the "Notes") (the "Offers"). Pursuant to the Offers, the Company invited Noteholders to tender any and all of their Notes for purchase by the Company for cash on the terms and conditions contained in the tender offer memorandum dated 9 May 2017 (the "Tender Offer Memorandum").
Capitalised terms not otherwise defined in this announcement have the same meaning as assigned to them in the Tender Offer Memorandum.
Following the Expiration Deadline, the Company had received valid tenders for purchase pursuant to the Offers of EUR99,900,000 in aggregate nominal amount of the 2018 Notes and SEK386,000,000 in aggregate nominal amount of the 2019 Notes.
The Company hereby announces that it will accept for purchase all validly tendered Notes pursuant to the Offers on the basis as set out below.
Description EUR300,000,000 SEK500,000,000 of the Notes 3.25 per cent. 5.25 per cent. Fixed Rate Notes Fixed Rate Notes due 17 September due 4 September 2018 2019 ----------------- ----------------- ------------------------- ISIN / Common XS0542591580 / XS0450035661 / Code 054259158 045003566 ----------------- ----------------- ------------------------- Final Acceptance EUR99,900,000 SEK386,000,000 Amount ----------------- ----------------- ------------------------- Benchmark N/A The Interpolated Mid-Swap Rate of -0.233 per cent. (as calculated by the Dealer Manager at or around 11.00 a.m. (London time) on 16 May 2017 in accordance with the terms of the Tender Offer Memorandum) ----------------- ----------------- ------------------------- Purchase Spread N/A +25 bps ----------------- ----------------- ------------------------- Purchase Yield -0.25 per cent. 0.017 per cent. ----------------- ----------------- ------------------------- Purchase Price 104.684 per cent. 112.003 per cent. ----------------- ----------------- ------------------------- Accrued Interest 2.163699% 3.704167% ----------------- ----------------- ------------------------- Aggregate EUR200,100,000 SEK114,000,000 nominal amount outstanding after the Settlement Date ----------------- ----------------- -------------------------
Payment of the relevant Purchase Price and the relevant Accrued Interest Payment in respect of Notes accepted for purchase pursuant to the Offers is expected to take place on 18 May 2017. Following settlement of the Offers, the Company intends to cancel the Notes purchased pursuant to the Offers.
Notes that are not tendered or accepted for purchase pursuant to the Offers will remain outstanding.
FURTHER INFORMATION
Skandinaviska Enskilda Banken AB (publ) has been appointed by the Company to act as Dealer Manager for the purposes of the Offers.
Lucid Issuer Services Limited has been appointed by the Company as Tender Agent for the purposes of the Offers.
The relevant contacts at the Company in relation to this announcement are Stefan Stern, Head of Corporate Relations, Sustainability and Communications; Telephone: +46 8 614 2058; Mobile: +46 70 636 7417 and Magnus Dalhammar, Head of Investor Relations; Telephone +46 8 614 2130; Mobile: +46 735 24 2130.
Requests for information in relation to the Offers should be directed to:
DEALER MANAGER
Skandinaviska Enskilda Banken AB (publ) Kungsträdgårdsgatan 8 106 40 Stockholm Sweden Telephone: +46 8 506 23 189 Attention: Liability Management Group Email: liabilitymanagement@seb.se
Requests for any documents or materials relating to, the Offers should be directed to:
TENDER AGENT
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Telephone: +44 20 7704 0880
Attention: Thomas Choquet
Email: investorab@lucid-is.com
DISCLAIMER
This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which must be read carefully. If any holder of Notes is in any doubt as to the action it should take, it is recommended to seek its own legal, tax, accounting and financial advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial adviser. None of the Company, the Dealer Manager or the Tender Agent (or their respective directors, employees or affiliates) makes any recommendation as to whether Noteholders should tender Notes in the Offers.
The Company and its affiliates, the Dealer Manager and the Tender Agent may, to the extent permitted by applicable law, from time to time after the Offers, continue to acquire Notes, other than pursuant to the Offers, including through open market purchases and privately negotiated transactions, tender offers, exchange offers or otherwise, upon such terms and at such prices as they may determine, which may be more or less than the prices to be paid pursuant to the Offers and could be for cash or other consideration or otherwise on terms more or less favourable than those contemplated in the Offers. The Company or the Dealer Manager may acquire further Notes, whether in the market or otherwise. The Company may also redeem any outstanding Notes in accordance with their terms and conditions.
OFFER AND DISTRIBUTION RESTRICTIONS
Neither this announcement nor the Tender Offer Memorandum constitute an invitation to participate in the Offers in any jurisdiction in which, or to any person to or from whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Manager and the Tender Agent to inform themselves about, and to observe, any such restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
May 16, 2017 08:00 ET (12:00 GMT)
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