Heimstaden AB (publ) Announces Indicative Results of its Tender Offer for Certain SEK and EUR Senior Unsecured Notes
Heimstaden AB (publ) ("Heimstaden") announces today the indicative results of its offer to holders of its outstanding SEK 500 million floating rate notes due April 2025 with ISIN XS2469914308 (of which SEK 158 million is currently held by Heimstaden) (the "SEK Apr-25 Notes"), SEK 1,200 million floating rate notes due October 2025 with ISIN SE0014991352 (of which SEK 290 million is currently held by Heimstaden) (the "SEK Oct-25 Notes"), and EUR 350 million fixed rate notes due March 2026 with ISIN SE0015657903 (the "EUR Notes") (together referred to as the "Notes") to tender their Notes for purchase by Heimstaden for cash (the "Tender Offer") up to a capped amount equal to the total nominal amount of new SEK and EUR senior unsecured notes (the "New Notes") following the Tender Offer.
The Tender Offer was announced on 10 January 2025 and made on the terms and subject to the conditions and restrictions described in the tender information document dated 10 January 2025 (the "Tender Information Document") and made available by Heimstaden for the Tender Offer. This announcement must be read in conjunction with the Tender Information Document. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Information Document.
The Tender Offer expired at 15.00 CET on 16 January 2025 (the "Expiration Date").
As of the Expiration Date, Heimstaden had received valid tender instructions for purchase pursuant to the Tender Offer, subject to the terms and conditions described in the Tender Information Document, in the below aggregate nominal amounts:
SEK Apr-25 Notes | SEK 250,000,000
SEK Oct-25 Notes | SEK 755,000,000
EUR Notes | EUR 333,200,000
Heimstaden expects, subject to the terms and conditions described in the Tender Information Document including the New Financing Conditions, to announce whether it will accept for purchase valid tenders of Notes pursuant to the Tender Offer, as soon as reasonably practicable after pricing of the New Notes.
Assuming all valid tender instructions for purchase pursuant to the Tender Offer will be accepted by Heimstaden, Heimstaden will hold in total the below aggregate nominal amounts on its balance after the settlement date:
SEK Apr-25 Notes | SEK 408,000,000
SEK Oct-25 Notes | SEK 1,045,000,000
EUR Notes | EUR 333,200,000
Subject to the New Financing Conditions being met, the Settlement Date for the Tender Offer is expected to be 31 January 2025.
Dealer Managers on the Tender Offer:
J.P. Morgan SE, liability_management_EMEA@jpmorgan.com, +44 20 7134 2468
Nordea Bank Abp, nordealiabilitymanagement@nordea.com, +45 6161 2996
Swedbank AB (publ), liabilitymanagement@swedbank.se