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
TENSFEFFMFWSEDI
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