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Stenhus Fastigheter - Tender Offer - Launch

Stenhus Fastigheter intends to issue new senior unsecured green bonds and announces a tender offer for MaxFastigheter's outstanding bonds - SE0015196084

02 OCTOBER 2023


Full announcement including disclaimers and offer restrictions available via Stenhus Fastigheter


"Stenhus Fastigheter i Norden AB (publ) (the "Company") has mandated Danske Bank A/S, Danmark, Sverige Filial ("Danske Bank"), Nordea Bank Abp ("Nordea") and Swedbank AB (publ) ("Swedbank") as joint bookrunners to arrange investor meetings starting on 2 October 2023 to explore the possibility of issuing new senior unsecured green bonds in SEK with an expected issue amount of SEK 350 million and a expected maturity of 3 years (the "New Green Bonds"). A capital markets transaction is expected to follow, subject to, among other things, prevailing market conditions.


An amount corresponding to the proceeds from the New Green Bonds will be used in accordance with the Company's newly established green financing framework dated September 2023, which entails financing or refinancing of green properties and investments in energy efficiency improvements, as well as for refinancing of the outstanding MaxFast Bonds as defined below.


In connection with the contemplated issuance of the New Green Bonds, the Company is offering holders of the Company's subsidiary MaxFastigheter i Sverige AB (publ)'s ("MaxFastigheter") outstanding unsecured 2021/2024 floating rate bonds, ISIN, SE0015196084 with an outstanding volume of SEK 300 million (the "MaxFast Bonds") to tender their shares by the Company to repurchase MaxFast Bonds for cash (the "Tender Offer")") at a price of 101.25 per cent of the nominal amount. The MaxFast Bonds will be repurchased subject to the terms and conditions described in the tender information document dated 2 October 2023 (the "Tender Information Document").


The tender information document for the Tender Offer is available at the following link: https://www.stenhusfastigheter.se/investerare/obligationer/.


The Tender Offer expires at 12:00 CEST on 5 October 2023, unless extended, re-opened, withdrawn or terminated at the sole discretion of the Issuer. Settlement of the Tender Offer is expected to occur on or around 12 October 2023. The Company's repurchase of the MaxFast Bonds is conditional upon a successful issuance of the New Green Bonds and the terms and conditions described in the tender information document. The MaxFast Bonds repurchased by the Company in the Tender Offer are intended to be transferred to MaxFastigheter.


Provided that the New Green Bonds are issued and the Tender Offer is completed, the Issuer intends to exercise its right to early redemption of any MaxFast Bonds, if any, that has not been repurchased pursuant to the Tender Offer, in accordance with the terms and conditions of the MaxFast Bonds. Upon such early redemption, the MaxFast Bonds will be fully repurchased at a price corresponding to 101.19 per cent of the nominal amount plus accrued and unpaid interest.


Danske Bank, Nordea and Swedbank are acting as joint bookrunners in connection with the issuance of the New Green Bonds and as dealer managers for the Tender Offer. Mannheimer Swartling Advokatbyrå AB is acting as legal advisor."


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