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
Heimstaden AB (publ) (the “Issuer” or “Heimstaden”) has mandated Nordea Bank Abp and Swedbank AB (publ) as joint bookrunners to arrange investor meetings to investigate the possibility to issue SEK denominated senior unsecured subsequent bonds as tap issues under its existing bonds 2020/2024 and 2020/2025, each with a framework of up to SEK 5,000,000,000 (the “Subsequent Bonds”). Subject to market conditions, a capital markets transaction may follow.
Subject to the Subsequent Bonds issue, Heimstaden is offering holders of the Issuer’s outstanding notes maturing on 18 May 2021 as outlined below (the “Notes”) to tender their Notes of up to an aggregate amount equal to the issued amount of the Subsequent Bonds for purchase by the Issuer for cash (the “Tender Offer”) at the purchase price set out below, plus accrued and unpaid interest. The Notes will be repurchased subject to the terms and conditions described in a tender information document dated 13 January 2021 (the “Tender Information Document”).
The Issuer intends to use the proceeds from the Subsequent Bonds towards the financing of the Tender Offer and refinancing of the Notes (including the possibility of voluntary total redemption (call option) in accordance with clause 9.3.2 in the terms and conditions of the Notes).
Description of the Notes / ISIN / Issued Amount / Outstanding Amount / Minimum Denomination / Purchase Price
2017/2021 Sr Unsec FRN / SE0009895055 / SEK 1,250,000,000 / SEK 1,250,000,000 / SEK 1,000,000 / 100.5%
The full terms and conditions of the Tender Offer can be found in the Tender Information Document, which is available at ir.heimstaden.com or at the following link:
https://ir.heimstaden.com/afw/files/press/heimstaden/tender-information.pdf.
The Tender Offer expires at 12:00 CET on 19 January 2021, unless extended, re-opened, withdrawn or terminated at the sole discretion of the Issuer.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 26 January 2021. The Issuer’s repurchase of Notes is conditional upon a successful issue of Subsequent Bonds and the Issuer is not under any obligation to accept any tender of Notes for purchase pursuant to the Tender Offer.
Holders of Notes who participate in the Tender Offer will be eligible to receive a priority in the allocation of the Subsequent Bonds, subject to the terms set out in the Tender Information Document. Holders of Notes who subscribes for Subsequent Bonds may accordingly receive priority in the Tender Offer.
The Issuer has mandated Nordea Bank Abp and Swedbank AB (publ) as dealer managers for the Tender Offer.
Attachment: The Tender Information Document.
Dealer Managers:
Nordea Bank Abp: +45 6161 2996, NordeaLiabilityManagement@nordea.com
Swedbank AB (publ): +46 (0)8 700 90 22, Syndicate@swedbank.se
For more information, please contact:
Arve Regland, CFO
+47 47 90 77 00
arve.regland@fredensborg.no
Adam Lindh, Head of Finance
+46 708-83 96 74
adam.lindh@heimstaden.com