Hoist Kredit AB (publ) announces final results of its tender offer for its outstanding SEK notes

Hoist Kredit AB (publ) also announces effective date and extraordinary early redemption of its outstanding SEK notes

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

Tender Offer regarding the Company’s outstanding Notes

Hoist Kredit AB (publ) (the “ Company ”), a wholly-owned subsidiary of Hoist Finance AB (publ), today announces the final results of its invitation to all holders of the outstanding SEK 350,000,000 fixed term subordinated loan notes due 2023 (ISIN SE0005280591) (the “ Notes ”) to tender any and all such Notes for purchase by the Company for cash, subject to the terms and conditions described in the consent solicitation and tender offer memorandum dated 27 April 2017 (the “ Consent Solicitation and Tender Offer Memorandum ”) (the “ Tender Offer ”).

At the Tender Deadline (as defined in the Consent Solicitation and Tender Offer Memorandum) at 5:00 p.m. CET on 10 May 2017, valid tender instructions of SEK 287,000,000 in aggregate principal amount of Notes had been received pursuant to the Tender Offer. The Company hereby announces that the New Issue Condition (as defined in the Consent Solicitation and Tender Offer Memorandum) has been satisfied and that it has decided to accept for purchase all validly tendered Notes.

The Tender Consideration (as defined in the Consent Solicitation and Tender Offer Memorandum) for the Notes repurchased by the Company is 114.5 per cent. of the nominal amount of the 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 23 May 2017. All Notes purchased by the Company will be cancelled.

Effective Date for amendments to the terms and conditions of the Notes and Extraordinary Early Redemption of the outstanding Notes

The Company today also announces that the amendments to the terms and conditions of the Notes set out in the Proposal (as defined in the Consent Solicitation and Tender Offer Memorandum) shall become effective on 18 May 2017, that the Extraordinary Early Redemption (as defined in the Consent Solicitation and Tender Offer Memorandum) will be made on 30 May 2017 and that the Early Consent Fee (as defined in the Consent Solicitation and Tender Offer Memorandum) will be paid to the direct registered noteholders and nominees who have submitted valid consent voting instructions in favour of the Proposal before the Early Consent Fee Deadline (as defined in the Consent Solicitation and Tender Offer Memorandum). All outstanding Notes that are not repurchased pursuant to the Tender Offer will be redeemed at an early redemption price of 112 per cent. of the nominal amount (together with accrued and unpaid interest) of each Note.

The Company will pay an Early Consent Fee (as defined in the Consent Solicitation and Tender Offer Memorandum) of 2.5 per cent. of the nominal amount of the Notes in respect of which noteholders delivered a valid voting instruction in favour of the Proposal before the Early Consent Fee Deadline (as defined in the Consent Solicitation and Tender Offer Memorandum). No Early Consent Fee will be payable in respect of Notes validly tendered pursuant to the Tender Offer.

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

Dealer Managers and Solicitation Agents:

Deutsche Bank AG, London Branch: +44 20 7545 8011, liability.management@db.com

Nordea Bank AB (publ): +45 5547 4294, bibi.larsen@nordea.com / NordeaLiabilityManagement@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 08:00 CET on 17 May 2017.  

About Hoist Finance

Hoist Finance is a trusted debt restructuring partner to international banks and financial institutions. We are specialised in serving banks in handling non-performing loans, and supporting individuals in becoming debt free. Through expertise and rigorous compliance we earn the banks’ trust. Through respect, honesty and fairness we earn the trust of our customers.

Tags:

Subscribe

Documents & Links