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Stillfront Group AB (publ) - Tender Offer 2024 (SE) - Update

Stillfront announces that the conditions for the repurchase and the early redemption of outstanding bonds have been fulfilled -  SE0015961065
 

27 MARCH 2024


Full announcement including disclaimers and offer/distribution restrictions available via Stillfront


"On 18 March 2024, Stillfront Group AB (publ) (“Stillfront”) announced an offer to the holders of Stillfront’s eĀisting senior unsecured floating rate bonds ÿith ISIN SE0015961065 maturing on 19 Maā 2025 (the “Outstanding Bonds”) to tender anā and all of their Outstanding Bonds for purchase bā Stillfront for cash (the “Tender Offer”) and announced that it eĀercised its right to make a þoluntarā earlā redemption of the Outstanding Bonds (the “Early Redemption”). On 20 March 2024, Stillfront announced the results of the Tender Offer.


The Tender Offer and the Earlā Redemption ÿere conditional upon Stillfront receiþing the proceeds from the issue of its neÿ bonds as announced bā Stillfront through a press release on 18 March 2024 (the “New Bond Issue”). Todaā, Stillfront announces that it has receiþed the proceeds from the Neÿ Bond Issue and the condition for the Tender Offer and the Earlā Redemption, respectiþelā, has therefore been fulfilled. The settlement for the Tender Offer has consequentlā occurred todaā on 27 March 2024 and the settlement for the Earlā Redemption ÿill hence occur on 15 April 2024 (the “ Redemption Settlement Date”). In relation to the Earlā Redemption, the redemption price together ÿith accrued and unpaid interest from, but eĀcluding, the preþious interest paāment date until, and including, the Redemption Settlement Date, ÿill be paid to each person ÿho is registered as oÿner of Outstanding Bonds as of the record date, being 8 April 2024, in the debt register maintained bā Euroclear Sÿeden."


 

Stillfront successfully issues new bonds of SEK 1 billion and announces results from the tender offer -  SE0015961065
 

20 MARCH 2024


Full announcement including disclaimers and offer/distribution restrictions available via Stillfront


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"Stillfront Group AB (publ) (”Stillfront”) has successfully issued senior unsecured bonds (the “New Bonds”) in an amount of SEK 1,000,000,000 and announces the results of the tender offer (the “Tender Offer”) to the holders of Stillfront’s outstanding senior unsecured floating rate bonds with ISIN SE0015961065 maturing on 19 May 2025 and with an outstanding amount of SEK 1,500,000,000 (the “Outstanding Bonds”), announced by press release on 18 March 2024. The Tender Offer expired at 12:00 CET on 20 March 2024. Outstanding Bonds in an aggregate amount of SEK 952,500,000 have been validly tendered and accepted by Stillfront.


The New Bonds were issued under a total framework of SEK 2,000,000,000, carries a floating interest rate of 3m Stibor + 365 basis points and will mature on 27 September 2028. Stillfront intends to apply for admission to trading of the New Bonds on the corporate bond list of Nasdaq Stockholm.


Stillfront will complete the Tender Offer at the communicated price of 100.9625 percent of the nominal amount per Outstanding Bond repurchased. Stillfront will also pay accrued and unpaid interest from, but excluding, the previous interest payment date until, and including, the settlement date for the Tender Offer. Settlement for the Tender Offer is expected to occur on 27 March 2024. Stillfront’s repurchase of the Outstanding Bonds is conditional upon Stillfront receiving the proceeds from the issue of the New Bonds.


The proceeds from the contemplated issue will be used to refinance the Outstanding Bonds, as well as to finance general corporate purposes."


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Stillfront contemplates issuance of new senior unsecured bonds, announces conditional tender offer of its 2021/2025 bonds and gives conditional notice of early redemption -  SE0015961065
 

18 MARCH 2024


Full announcement including disclaimers and offer/distribution restrictions available via Stillfront


Stillfront Group AB (publ) (“Stillfront”) has mandated DNB Markets, a part of DNB Bank ASA, Sweden Branch, Nordea Bank Abp and Swedbank AB (publ) to arrange a series of credit investor meetings to explore the possibility of issuing floating rate senior unsecured bonds under a total framework of SEK 2,000,000,000, with an expected tenor of 4.5 years and an expected amount of SEK 1,000,000,000 (the “New Bonds”), subject to prevailing market conditions. The proceeds from the contemplated issue will be used to refinance the outstanding SEK 1,500,000,000 bonds issued under the 2021/2025 senior unsecured bond framework due 2025 with ISIN SE0015961065 (the “Existing Bonds”) and for general corporate purposes.

In conjunction with the potential issue of New Bonds, Stillfront is offering holders of the Existing Bonds to tender any and all of their Existing Bonds for purchase by Stillfront for cash (the “Tender Offer”) at the purchase price set out below, plus accrued and unpaid interest. The Existing Bonds will be repurchased subject to the terms and conditions described in a tender information document dated 18 March 2024 (the “Tender Information Document”).


Description of the Bonds / ISIN / Outstanding Amount / Minimum Denomination / Purchase Price

2021/2025 Sr. Unsec. FRN / SE0015961065 / SEK 1,500,000,000 / SEK 1,250,000 / 100.9625%


The full terms and conditions of the Tender Offer can be found in the Tender Information Document, which is available in the following link: https://www.stillfront.com/en/funding/"


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