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Stenhus Fastigheter - Tender Offer - Results

Stenhus Fastigheter successfully issues green bonds in the amount of SEK 500 million and announces the results of the tender offer for MaxFastigheter's bonds - SE0015196084

06 OCTOBER 2023


Full announcement including disclaimers and offer restrictions available via Stenhus Fastigheter


"Stenhus Fastigheter i Norden AB (publ) (the "Company") has successfully issued new senior unsecured green bonds in an initial amount of SEK 500 million (the "New Bonds") and announces the results of the tender offer (the "Tender Offer") to the holders of the Company's subsidiary MaxFastigheter i Sverige AB (publ)'s ("MaxFastigheter")") outstanding senior unsecured 2021/2024 floating rate bonds, ISINs SE0015196084 with an outstanding volume of SEK 300 million (the "MaxFast Bonds").


The New Bonds were issued under a framework of SEK 700 million, have a tenor of 3 years and carry a floating interest rate of 3m Stibor + 600 basis points. The Company intends to apply for admission to trading of the New Bonds on Nasdaq Stockholm's sustainable bond list.


The Tender Offer expired at 12:00 CEST on 5 October 2023. The Company has received and will accept repurchase of outstanding MaxFast Bonds corresponding to a total nominal amount of SEK 125 million. The Issuer hereby announces that the New Financing Conditions (as defined in a separate tender information document dated 2 October 2023, which is available on the Company's website: https://www.stenhusfastigheter.se/investerare/obligationer/) have been fulfilled by the issuance of the New Bonds and thus that the Issuer will complete the Tender Offer.


The price for the MaxFast Bonds in the Tender Offer amounts to 101.25 per cent of the nominal amount. The Company will also pay accrued and unpaid interest from, but excluding, the previous interest due date until, and including, the settlement date of the Tender Offer. Settlement of the Tender Offer is expected to take place on 13 October 2023.


In accordance with MaxFastigheter's notice of conditional early redemption of the MaxFast Bonds announced on 2 October 2023, MaxFastigheter intends, provided that the conditions therein are met, to exercise its right to early redemption. 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 and settlement for such early redemption is expected to be 27 October 2023.


Danske Bank, Nordea and Swedbank have acted as joint bookrunners in connection with the issuance of the New Bonds and as dealer managers for the Tender Offer. Mannheimer Swartling has acted as legal advisor."


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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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