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Heimstaden Bostad AB (publ) - Tender Offer (XS & NO) - Results

Heimstaden Bostad AB Announces Results of the Tender Offer for Senior Secured Unsecured Bonds - XS2327839580 - NO0010976319 - NO0010838899

08 DECEMBER 2023


Full announcement, including disclaimers and offer/distribution restrictions, available via Euronext 


"Heimstaden Bostad AB ("Heimstanden Bostad") announces the restuls of the tender offer to the eligible holders of Hemstanden Bostad's outstanding senior unsecured floating rate bonds denominated in SEK and NOK (The "Tender Offer"), where all validly submitted tender instructions will be accepted, as further set out in the below table.


The purpose of the Tender Offer is, among other things, to proactively improve Heimstanden Bostad's liability composition and debt maturity profile."



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Heimstaden Bostad AB announces tender offer for senior unsecured bonds - XS2327839580 - NO0010976319 - NO0010838899

04 DECEMBER 2023


Full announcement, including disclaimers and offer/distribution restrictions, available via Euronext


"Heimstaden Bostad AB (“Heimstaden Bostad”) is today launching an offer to the holders of its outstanding SEK 500 million floating rate notes due April 2024 (ISIN XS2327839580), its NOK 200 million floating rate notes due April 2024 (ISIN NO0010976319), and its NOK 500 million floating rate notes due June 2024 (ISIN NO0010838899) (together the “Notes”), to tender any and all of their Notes for purchase by Heimstaden Bostad for cash at a fixed purchase price of 100% of the nominal amount of the respective Notes, plus accrued and unpaid interest (the “Tender Offer”). The Notes will be repurchased subject to the terms and conditions described in the tender information document dated 4 December 2023 attached to this press release (the “Tender Information Document”). The purpose of the Tender Offer is, among other things, to proactively improve Heimstaden Bostad’s liability composition and debt maturity profile. The Tender Offer expires at 12.00 CET on 8 December 2023, unless extended, re-opened, withdrawn, or terminated at the sole discretion of Heimstaden Bostad. Settlement of the Tender Offer is expected to occur on or around 19 December 2023. The terms and conditions of the Notes will continue to be in effect for noteholders who do not participate in the Tender Offer or whose Notes are not accepted for repurchase by Heimstaden Bostad. The full terms and conditions of the Tender Offer can be found in the Tender Information Document. Dealer Managers: Danske Bank A/S: liabilitymanagement@danskebank.dk Nordea Bank Abp: nordealiabilitymanagement@nordea.com

Contacts: Christian Dreyer, CCO +47 90 72 49 99, christian.dreyer@heimstaden.com

Malin Lethenström, Head of IR +44 77 48 05 58 21, ir@heimstaden.com


Heimstaden Bostad is a leading European residential real estate company with around 162,000 homes across nine countries with a property value of SEK 332 billion. We acquire, develop, and manage properties with an evergreen perspective. Guided by our Scandinavian heritage and values Care, Dare and Share – our about 2,000 colleagues fulfil our mission to enrich and simplify our customers’ lives through Friendly Homes. Read more at www.heimstadenbostad.com. This information is such information that Heimstaden Bostad AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact persons, for publication on 4 December 2023 at 09:00 CET."


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"Purchase price


Subject to the terms and conditions set out in this tender information document and the applicable minimum denomination in respect of the Notes, the Issuer offers to purchase the Notes at the purchase prices set out below (the “Purchase Prices”):


Description of the Notes / ISIN / Issued Amount / Outstanding Amount / Minimum Denomination / Purchase Price (% of Nominal Amount)


2021/2024 Floating Rate Notes / XS2327839580 / SEK 500,000,000 / SEK 500,000,000 / SEK 2,000,000 / 100.00%

2021/2024 Floating Rate Notes / NO0010976319 / NOK 200,000,000 / NOK 200,000,000 / NOK 2,000,000 / 100.00% 2018/2024 Floating Rate Notes / NO0010838899 / NOK 500,000,000 / NOK 500,000,000 / NOK 1,000,000 / 100.00%


The Issuer will also pay an amount equal to any accrued and unpaid interest on the Notes on the Settlement Date (as defined below) in accordance with the terms and conditions of the Notes (“Accrued Interest”)."


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"Purpose of the Tender Offer


The purpose of the Tender Offer is, amongst other things, to proactively improve the Issuer’s liability composition and debt maturity profile."


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****PREVIOUS HEIMSTADEN OFFER BELOW****


 

Heimstaden Bostad (publ) announces results of Tender Offer


06 MARCH 2023


Full announcement available via EURONEXT.


The Company today announces that it will accept for purchase SEK 10,103,299,811 (equivalent to approximately EUR 907,175,290) in aggregate principal amount of Securities validly tendered pursuant to the Offers. The total purchase consideration (excluding Accrued Interest Payments) for Securities validly tendered and accepted for purchase pursuant to the Offers will be SEK 9,333,366,687 (equivalent to approximately EUR 838,042,995) (the "Total Purchase Consideration"), which will be partially funded by new equity raised from new and existing shareholders in an amount of SEK 3,337,000,000 (equivalent to approximately EUR 299,629,230) and partially funded by existing liquidity available to the Company.


The Company decided to upsize the transaction and use its existing liquidity for this liability management exercise. The maximum equity commitment of SEK 4,500,000,000 (equivalent to approximately EUR 404,055,000) was not fully utilised as certain non-accepted tender bids did not satisfy the Company's liability management target.

All SEK/EUR conversions herein are based on the SEK/EUR exchange rate of 0.08979 at 4.00 p.m. (London time) on 3 March 2023.


The final results of the Offers are as follows:




For Securities which are subject to scaling, the Scaling Factor has been applied to tender instructions at the Fixed Purchase Price or Minimum Purchase Price, as applicable.

 

Heimstaden Bostad (publ) announces today its invitation to holders


27 FEBRUARY 2023


Full announcement available via Lonse


Heimstaden Bostad AB (publ) (the "Company") announces today its invitations to holders of the outstanding securities listed in the table below (each a "Series" and together, the "Securities"), to tender such Securities for purchase by the Company for cash (the "Offers"). The purchase price in respect of any of the (i) SEK 1,050,000,000 Floating Rate Notes due 23 November 2023, (ii) SEK 2,800,000,000 0.933 per cent. Notes due 23 November 2023, (iii) SEK 850,000,000 0.875 per cent. Fixed Rate Notes due 22 January 2024, (iv) EUR 700,000,000 2.125 per cent. Notes due 5 September 2023, and (v) EUR 700,000,000 Callable Floating Rate Notes due 19 January 2024 validly tendered and accepted for purchase by the Company will be the relevant fixed purchase price specified below, and the purchase price in respect of the Securities of any other Series validly tendered and accepted for purchase by the Company will be determined pursuant to a separate unmodified Dutch auction in respect of each Series of Securities, on the terms and subject to the conditions set out in the tender offer memorandum dated 27 February 2023 (the "Tender Offer Memorandum") prepared by the Company. The Offers are subject to the offer and distribution restrictions set out below and as more fully described in the Tender Offer Memorandum.





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Rationale for the Offers


The purpose of the Offers is, amongst other things, to proactively improve the Company’s liability composition and debt maturity profile.

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