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Karlsberg Brauerei GmbH - Exchange Offer 2024 (DE/NO) - Early Termination

Karlsberg Brauerei: Early termination of the voluntary exchange offer and the offer period for new subscriptions this week due to high demand and fixing of the interest rate at 6% p.a.

16 APRIL 2024


Full announcement including disclaimers and offer restrictions available via EQS


Homburg, 16 April 2024 – Karlsberg Brauerei GmbH’s new corporate bond 2024/2029 has met with great interest from holders of the existing 2020/2025 bond (ISIN: DE000A254UR5, WKN: A254UR) as well as from institutional investors, asset managers and private investors.

Due to the high demand, both the exchange period, initiated on 5 April 2024, which was originally scheduled to end on 22 April 2024, 6 p.m. CEST, and the offer period, which started on 11 April as part of the public offer via the subscription functionality of Deutsche Börse for the new corporate bond 2024/2029 (ISIN: NO0013168005, WKN: A3825C), which was originally scheduled to end on 25 April 2024, 12:00 p.m. CEST, will be shortened.


The exchange of the existing 2020/2025 bond (ISIN: DE000A254UR5, WKN: A254UR) 1:1 for the new corporate bond will now end on Thursday, 18 April 2024, 6 p.m. CEST.


New subscriptions for the corporate bond are only possible until Friday, 19 April 2024, 9:00 a.m. CEST.

The interest rate is set at 6.0% p.a. at the lower end of the range.


Listing on the Frankfurt Stock Exchange in the Quotation Board segment (Open Market) is now scheduled for 2 May 2024.


The issuer intends to exercise its call right for the 2020/2025 bond within three business days after the issue date (value date) of the new 2024/2029 bond and to redeem all outstanding bonds not tendered in the 2024 exchange offer by 6 June 2024 at the latest.


The supplement to the securities prospectus approved by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg, and notified to the Federal Financial Supervisory Authority (BaFin), Germany, as well as the securities prospectus are available for download at investoren.karlsberg.de in the “Bond 2024/2029” section and at www.luxse.com."


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Full announcement including disclaimers and offer restrictions available via Karlsberg Brauerei GmbH


On April 5, 2024, Karlsberg Brauerei GmbH made a voluntary public exchange offer to all holders of the 2020/2025 bond (WKN: A254UR / ISIN: DE000A254UR5) including an overpurchase option of the new bond 2024/2029 (WKN: A3825C, ISIN: NO0013168005).

All persons currently holding bonds of the 2020/2025 bond will be given the opportunity to offer their bonds to the issuer and to receive bonds of the 2024/2029 bond plus accrued accrued accrued interest as well as an exchange premium of EUR 10.00 per exchanged bond 2020/2025 at an exchange ratio of 1:1. The exchange period has been shortened due to high demand and will run until April 18, 2024 (18:00 CEST)."


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Karlsberg Brauerei GmbH resolves to issue a new corporate bond including an exchange offer for holders of the 2020/2025 bond

03 APRIL 2024


Full announcement including disclaimers and offer restrictions available via EQS


Homburg, 3 April 2024 – Karlsberg Brauerei GmbH today decided to issue a new corporate bond and plans to refinance its existing 2020/2025 bond (ISIN: DE000A254UR5, WKN: A254UR) ahead of schedule. The new corporate bond 2024/2029 under Norwegian law (ISIN: NO0013168005, WKN: A3825C) is expected to have a target volume of EUR 50 million, a term of five years and an annual fixed interest rate in a range between 6.00% and 7.00%. The final interest rate is expected to be determined after the end of the offer period on the basis of the subscription orders received and published in a pricing notice.

The issue is to be made by way of a public offer in Germany and Luxembourg and will also include a voluntary exchange offer including a multiple purchase option to the holders of the 2020/2025 bond. The public offer will be made subject to and on the basis of a securities prospectus which is expected to be approved by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg, today. The securities prospectus will be published immediately after approval on the company’s website at investoren.karlsberg.de in the “Anleihe 2024/2029” section.

The proceeds from the bond issue are to be used for the early redemption of the existing 2020/2025 corporate bond with a total nominal amount of EUR 50 million, which can be called by the company at a price of 101% since 30 September 2023 (call option). The issuer intends to exercise its call option for the 2020/2025 bond within three business days of the issue date (value date) of the new 2024/2029 bond and to redeem all outstanding bonds not tendered as part of the 2024 exchange offer by 6 June 2024 at the latest.


The period for the voluntary exchange offer (including the multiple purchase option) is expected to start on Friday, 5 April 2024 and end on 22 April 2024 at 6:00 p.m. CEST. The subscription period for the public offer via the subscription functionality of Deutsche Börse is scheduled to start on 11 April 2024 and is expected to end on 25 April 2024 at 12:00 noon CEST (subject to early termination or extension of the offer period). It is planned to list the bonds on the Frankfurt Stock Exchange (FWB) in the Quotation Board segment (Open Market) and within six months after the Issue Date on the Nordic ABM of the Oslo Stock Exchange.


As part of a private placement, the bonds will also be offered in Germany, selected European countries and certain other countries. Pareto Securities AS, Frankfurt Branch, is acting as Lead Manager in the Private Placement.


Contact

Public RelationsPetra HufferKarlsbergstr. 62D-66424 HomburgT: +49 (0)6841 105-414petra.huffer@karlsberg.de       

Financial and business pressDariusch Manssuri, IR.on AGMittelstraße 12-14, Haus AD-50672 CologneT: +49 (0)221 91 40 975dariusch.manssuri@ir-on.com 


Mandatory information according to § 37a HGB: Karlsberg Brauerei GmbH | Karlsbergstr. 62 | 66424 Homburg | Management: Markus Meyer | Saarbrücken Local Court HRB17866"


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