Lemminkäinen Corporation announces a partial tender offer for its outstanding hybrid bond issued on 11 March 2014
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 22 NOVEMBER 2016 AT 8:30 A.M.
LEMMINKÄINEN CORPORATION ANNOUNCES A PARTIAL TENDER OFFER FOR ITS OUTSTANDING HYBRID BOND ISSUED ON 11 MARCH 2014
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 announces a partial cash tender offer for its outstanding EUR 70 million hybrid bond (ISIN FI4000086665) and aims to purchase notes with the aggregate nominal amount of EUR 35 million. The outstanding perpetual hybrid bond was issued on 11 March 2014 and the company is entitled to redeem it fully on 30 March 2018 at the earliest.
The purchase price for the notes will be 107.85 per cent of their nominal value, amounting to EUR 107,850 per each EUR 100,000 nominal amount of the notes. The offer period commences on 22 November 2016 and expires on 2 December 2016 at 4.00 p.m. EET. The estimated settlement date is on or about 9 December 2016. The tender offer is subject to the terms and conditions outlined in the tender offer memorandum dated 22 November 2016. The memorandum is available from the account operator of the bond holder or the dealer manager for the tender offer.
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 Bank Finland Plc is acting as the exclusive dealer manager and tender agent for the tender offer.
Ilkka Salonen, CFO
Tel. +358 2071 53304
Nasdaq Helsinki Ltd
Lemminkäinen is an expert in complex infrastructure construction and building construction in Northern Europe and one of the largest paving companies in its market. Together with our customers and 4,800 professionals we employ, we build a sustainable society. In 2015, our net sales were EUR 1.9 billion. Lemminkäinen Corporation’s share is quoted on Nasdaq Helsinki Ltd. www.lemminkainen.com