Lemminkäinen Corporation completes the tender offer of its outstanding hybrid bond issued on 30 March 2012
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 12 JUNE 2015 AT 9.00 A.M.
LEMMINKÄINEN CORPORATION COMPLETES THE TENDER OFFER OF ITS OUTSTANDING HYBRID BOND ISSUED ON 30 MARCH 2012
Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Hong Kong, South Africa or Japan or any other jurisdiction in which the distribution or release would be unlawful.
Lemminkäinen Corporation has completed the partial repurchase of its hybrid bond (ISIN: FI4000041322) issued on 30 March 2012. The company has agreed to repurchase notes to a nominal amount of EUR 27.1 million in exchange for cash which represents 38.7 per cent of the original EUR 70 million hybrid bond issued in 2012.
All tenders from noteholders have been accepted and will be executed according to the terms and conditions of the tender offer. The repurchase price will be 104.625 per cent for the nominal amount plus the accrued interest until the settlement date 17 June 2015.
The repurchased notes will be annulled, after which EUR 42.9 million of the hybrid bond issued in 2012 will remain outstanding. The company is entitled to redeem it on 30 March 2016.
A hybrid bond is an instrument which is subordinated to the company’s other debt obligations and which is treated as equity in the IFRS financial statements. The hybrid bond does not confer to its holders the rights of a shareholder and does not dilute the holdings of the current shareholders.
Nordea Markets acted as the exclusive dealer manager and tender agent in the tender offer.
Ilkka Salonen, CFO
Tel. +358 2071 53304
Katri Sundström, Head of Investor Relations
Tel. +358 2071 54813
NASDAQ OMX Helsinki
Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in Northern Europe and employ about 5,600 professionals. In 2014, our net sales were about EUR 2.0 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com