Hoist Kredit AB (publ) announces final results for tender offer to all holders of its outstanding SEK and EUR notes

Hoist Kredit AB (publ) also announces successful solicitation of consents to certain amendments to the terms and conditions of the notes.


Hoist Kredit AB (publ) (the “Company”) today announces the final results of its invitation to all holders of the outstanding maximum SEK 1,000,000,000 STIBOR 3M + 3.750% Senior Unsecured Floating Rate Notes due 2016 (ISIN SE0005567542) (the “SEK Notes“) and the EUR 100,000,000 EURIBOR 3M +3.750% Senior Unsecured Floating Rate Notes due 2017 (ISIN SE0006287827) (the “EUR Notes“, and together with the SEK Notes, the “Notes“) to tender their Notes for purchase by the Company for cash consideration (the “Tender Offer”).

Unless otherwise defined herein, terms used in the consent solicitation and tender offer memorandum dated 16 May 2016 (the “Consent Solicitation and Tender Offer Memorandum”) shall have the same meaning in this announcement.

At the extended Tender Deadline at 17:00 (CET) on 31 May 2016, valid tender instructions of EUR 61,600,000 (in respect of the EUR Notes) and SEK 99,000,000 (in respect of the SEK Notes), respectively, in aggregate principal amount of Notes had been received pursuant to the Tender Offer. The Company accepts for purchase the validly tendered Notes.

The Tender Consideration for the Notes is 103.3 per cent. of the nominal amount of the EUR Notes and 102.2 per cent. of the nominal amount of the SEK Notes. The Company will pay accrued and unpaid interest on Notes accepted for purchase in the Tender Offer.

The expected Settlement Date for the Tender Offer is 7 June 2016. All Notes purchased by the Company will be cancelled. Following the cancellation of Notes, SEK 58,000,000 in an aggregate nominal volume of the SEK Notes and EUR 28,400,000 in an aggregate nominal volume of the EUR Notes will remain outstanding.

The Company also announces the successful completion of its consent solicitation from holders of the Notes regarding certain amendments to the terms and conditions of the Notes (the “Amendments”). The Amendments became effective immediately as of 2 June 2016.

In connection with the consent solicitation, Noteholders’ Meetings were held on 2 June 2016 at 10:30 (CET) in respect of the EUR Notes and at 11:30 (CET) in respect of the SEK Notes. The quorum requirements were met and the Amendments were passed.

The Company will pay Early Bird Consent Fee or Consent Fee to Direct Registered Owners and Nominees that had submitted valid Consent Voting Instructions in favour of the Proposals before the relevant deadlines in accordance with the terms set out in the Consent Solicitation and Tender Offer Memorandum. The expected settlement date for the consent fee payments is 7 June 2016. Noteholders who have validly tendered Notes pursuant to the Tender Offer are exclusively compensated for such tender through the Tender Consideration and such Noteholders are not eligible to receive any Early Bird Consent Fee or Consent Fee with respect to tendered Notes.

The details for the Tender Offer and the consent solicitation are fully described in the Consent Solicitation and Tender Offer Memorandum.

To receive copies of the Consent Solicitation and Tender Offer Memorandum or for questions relating to the Tender Offer or the Consent Solicitation, please contact the Dealer Managers and Solicitation Agents (contact details are set out below).

Dealer Managers and Solicitation Agents:

Credit Suisse Securities (Europe) Limited: +44 20 7883 8763, liability.management@credit-suisse.com

Danske Bank A/S: +46 (0)8 56 88 06 35, patric.carlsson@danskebank.se

Nordea Bank Danmark A/S: +45 3333 1675, bibi.larsen@nordea.com/ LiabilityManagement@nordea.com

Tender and Paying Agent:

Nordea Bank AB (publ): IssuerSeCustodian@nordea.com

For further information, please contact:

Magnus Linnersand, Group Head of Treasury

Telephone: +46 (0)8 555 177 72

Michel Jonson, Group Head of Investor Relations

Telephone: +46 (0)8 555 177 19

The information above has been published pursuant to the Swedish Securities Markets Act (Sw. lagen om värdepappersmarknaden) and/or the Swedish Financial Instruments Trading Act (Sw. lagen om handel med finansiella instrument). This information was released for publication at 13.45 (CET) on 2 June 2016. 

About Hoist Finance

Hoist Finance is a leading debt restructuring partner to international banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. Hoist Finance operates through eleven in-house collection centers across Europe, complemented by local external debt servicing partners. The total carrying value of Hoist Finance’s acquired loans was approximately SEK 11.3 billion as per 31 December 2015. The parent company Hoist Finance AB (publ) is listed on Nasdaq Stockholm Mid-Cap list and its subsidiary Hoist Kredit AB (publ) is a regulated “Credit Market Company” under the supervision of the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). In Sweden, the company offers internet-based savings deposit services through HoistSpar, with around 85,000 accounts.



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