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

Storskogen announces results from the tender offer and gives conditional notice of early redemption of bonds

15 JUNE 2023

Full announcement including disclaimers and offer restrictions available via Cision (Source: Storskogen)

"Storskogen Group AB (publ) (“Storskogen”) announces the results of the tender offer (the “Tender Offer”) to the holders of Storskogen’s senior unsecured floating rate bonds with ISIN SE0015810460 maturing on 14 May 2024 and with an outstanding amount of SEK 3 billion (the “Bonds”). The Tender Offer expired at 12:00 CEST on 15 June 2023. Bonds in an aggregate amount of SEK 2,591,250,000 have been validly tendered and accepted by Storskogen.

Storskogen will complete the Tender Offer and the price for the Bonds in the Tender Offer amounts to 101.50 percent of the nominal amount. Storskogen 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 22 June 2023.

Storskogen announces the intention to exercise its right to make a voluntary early redemption of the outstanding Bonds (the “Early Redemption”). The Early Redemption is conditional upon Storskogen receiving the proceeds from the issue of its new bonds, which is further described in a press release published on 14 June 2023.

The Bonds will be redeemed at a price equal to 101.50 percent of the nominal amount plus accrued and unpaid interest from, but excluding, the previous interest payment date until, and including, the settlement date of the Early Redemption, which is expected to occur on 12 July 2023.

The redemption amount will be paid to each person who is registered as owner of Bonds as of the record date, being 5 July 2023, in the debt register maintained by Euroclear Sweden. In connection with the Early Redemption, the Bonds will be delisted from Nasdaq Stockholm.

A notice of the Early Redemption is sent to directly registered owners of the Bonds in the debt register as of 14 June 2023.

Nordea, Danske Bank, Swedbank and Carnegie have acted as dealer managers in relation to the tender offer."

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Tender Information Document in respect of a tender offer for certain outstanding SEK bonds

08 JUNE 2023

Full announcement including disclaimers and offer restrictions available via Storskogen

"Storskogen Group AB (publ), reg. no. 559223-8694 (the “Issuer”) today announces its invitation to the holders (including any beneficial owners who hold their bonds via nominees or custodians) (the “Bondholders”) 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 Nordea Bank Abp (“Nordea”), Danske Bank A/S, Danmark, Sverige Filial (“Danske Bank”), Swedbank AB (publ) (“Swedbank”) and Carnegie Investment Bank AB (publ) (“Carnegie”) 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 senior unsecured floating rate bonds in an initial amount of approximately SEK 1,500,000,000 (the “New Bonds”), subject to market conditions. The Issuer has mandated Nordea as global coordinator and Danske Bank, Swedbank and Carnegie as 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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"Purpose of the Tender Offer

The Tender Offer is being made as part of the Issuer’s commitments to exercise active management of its balance sheet. The purpose of the Tender Offer is to pro-actively manage the Issuer’s upcoming debt maturity profile well in advance of its final maturity date."

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