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Stillfront Group AB (publ) - Tender Offer (SE) - Results

Stillfront successfully issues new bonds of SEK 1 billion, announces results from the tender offer and gives conditional notice of early redemption of existing bonds


07 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Source: Stillfront Group



"Stillfront Group AB (publ) (”Stillfront”) has successfully issued senior unsecured bonds (the “New Bonds”) in an initial amount of SEK 1 billion and announces the results of the tender offer (the “Tender Offer”) to the holders of Stillfront’s existing senior unsecured floating rate bonds with ISIN SE0012728830 maturing on 26 June 2024 and with an outstanding amount of SEK 1 billion (the “Bonds”). The Tender Offer expired at 12:00 CEST on 7 September 2023. Bonds in an aggregate amount of SEK 498.75 million have been validly tendered and accepted by Stillfront.


The New Bonds ÿere issued under a total frameÿork of SEK 2 billion, carries a floating interest rate of 3m Stibor + 395 basis points and ÿill mature on 14 September 2027. Stillfront intends to applā for admission to trading of the Neÿ Bonds on the corporate bond list of Nasdaq Stockholm.


Stillfront ÿill complete the Tender Offer at the communicated price of 100.950 percent of the nominal amount per Bond repurchased. Stillfront ÿill also paā accrued and unpaid interest from, but eĀcluding, the preþious interest paāment date until, and including, the settlement date for the Tender Offer. Settlement for the Tender Offer is eĀpected to occur on 14 September 2023. Stillfront’s repurchase of the Bonds is conditional upon Stillfront receiþing the proceeds from the issue of the New Bonds.


The proceeds from the contemplated issue ÿill be used to refinance the outstanding Bonds, as ÿell as to finance general corporate purposes."


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Stillfront Group contemplates issuance of new senior unsecured bonds and announces a conditional tender offer of its outstanding 2019 /2024 bonds


04 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Source: Stillfront Group


"Stillfront Group AB (publ), Reg. No. 556721-3078 (the “Issuer”) today announces its invitation to the holders (including any beneficial owners who hold their bonds via nominees or custodians) (the “Holders”) of its outstanding bonds outlined below (together, the “Bonds”) to tender any and all of their Bonds for purchase by the Issuer for cash (the “Tender Offer”) subject to the satisfaction of the New Financing Conditions (as defined below) being met. The Issuer has appointed DNB Markets, a part of DNB Bank ASA, Sweden Branch (“DNB”), Nordea Bank Abp (“Nordea”) and Swedbank AB (publ) (“Swedbank”) to act as dealer managers (the “Dealer Managers”) in connection with the Tender Offer.


In connection with the Tender Offer, the Issuer intends to issue new SEK denominated senior unsecured bonds under a framework of up to SEK 2,000,000,000 (the “New Bonds”), subject to market conditions. The Issuer has mandated DNB, Nordea and Swedbank as arrangers and joint bookrunners in respect of the issuance of the New Bonds.


The Tender Offer is made on the terms and subject to the conditions set out below.


Purchase price


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

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


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