Lemminkäinen Corporation completes the tender offer of its outstanding hybrid bond issued on 11 March 2014
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 5 DECEMBER 2016 AT 12:15 P.M
LEMMINKÄINEN CORPORATION COMPLETES THE TENDER OFFER OF 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 completes the partial repurchase of its hybrid bond (ISIN FI4000086665) issued on 11 March 2014. The company has agreed to repurchase notes to a nominal amount of EUR 34.8 million in exchange for cash which represents 49.7 per cent of the original EUR 70 million hybrid bond issued in 2014. All tenders from noteholders have been accepted in full.
The purchase price for the notes is 107.85 per cent, amounting to EUR 107,850 per each EUR 100,000 nominal amount of the notes. Accrued and unpaid interest until the settlement date on 9 December 2016 will also be paid in accordance with the terms and conditions of the tender offer memorandum.
The repurchased notes will be annulled, after which EUR 35.2 million of the hybrid bond issued in 2014 will remain outstanding. The company is entitled to redeem it on 30 March 2018 at the earliest.
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 54524
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