Autoliv avser att omfinansiera obligationslån med löptid till 2014

(Stockholm, 2012-03-02) – – – Autoliv Inc (NYSE: ALV och SSE: ALIV SDB) – världens ledande bilsäkerhetsföretag – meddelar idag att företaget avser att påbörja en s.k ”re-marketing” den 12 mars 2012 av sitt 8-procentiga obligationslån (“Senior Notes”) som löper till den 30 april 2014. Vid en framgångsrik ”re-marketing” kommer den nya räntan på obligationslånet träda i kraft på eller efter den 15 mars 2012.

Obligationslånet är kopplat till de aktieenheter (”equity units”) som Autoliv utgav den 30 mars 2009. När lånet nu bjuds ut på nytt erbjuds en möjlighet för investerare att investera i Autoliv samtidigt som Autoliv kan sänka sina räntekostnader. I Sverige riktar sig erbjudandet endast till ett begränsat antal kvalificerade investerare.

Det belopp som återerbjuds förväntas uppgå till cirka 108 MUSD.

De värdepapper som påverkas av detta meddelande är följande:

  • Corporate Units (CUSIP No. 052800208)
  • Alla 8-procentiga obligationslån med slutdatum under 2014 (CUSIP No. 052800AA7)
  • Treasury Units (CUSIP No. 052800307)

Morgan Stanley & Co. LLC är ensam ansvarig bank för transaktionen (“Remarketing Agent”). Den tidigare avtalade förfallodagen för obligationslånet, den 30 april 2014, påverkas inte av att lånet nu bjuds ut till ny marknadsmässig prissättning.

För ytterligare upplysningar om transaktionen, se bifogad beskrivning på engelska (som är avtalsspråket för obligationslånet).

Förfrågningar:

Hannes Wadell, Finanschef                                                        Tel 08 587 206 55

Om Autoliv

Autoliv Inc. är världens ledande bilsäkerhetsföretag. Företaget utvecklar och tillverkar bilsäkerhetssystem till alla större biltillverkare i världen. Tillsammans med sina joint ventures har Autoliv cirka 80 anläggningar med cirka 48.000 medarbetare i 29 länder. Dessutom har Autoliv 17 tekniska centra i nio länder runt om i världen med 20 krockbanor, vilket är fler än något annat bilsäkerhetsföretag. Koncernens försäljning ökade under 2011 med 15% till drygt 8,2 miljarder dollar. Bolagets aktier är noterade på New York Stock Exchange (NYSE:ALV) och dess svenska depåbevis på NASDAQ OMX Stockholm (ALIV SDB). Mer information finns på Autolivs hemsida www.autoliv.com.

”Safe Harbor Statement” enligt amerikansk lag

Med undantag för de uppgifter i detta pressmeddelande som avser förfluten tid, är uppgifterna av framåtblickande natur och därför behäftade med risker och osäkerheter när det gäller bl a (men inte begränsat till) ekonomiska, konkurrensmässiga, legala, tekniska och övriga omvärldsfaktorer som kan påverka marknader, produkter, tjänster, priser samt koncernens verksamhet i övrigt. Förutom vår skyldighet att löpande rapportera väsentlig information till den amerikanska finansinspektionen, SEC, åtar vi oss inte att uppdatera dessa framåtblickande uppgifter till följd av ny information eller framtida händelser.

Remarketing Information

During the three-business day period commencing on March 12, 2012 (the “Early Remarketing Period”), and pursuant to a Remarketing Agreement, dated as of February 9, 2012, among Autoliv, U.S. Bank National Association, as the purchase contract agent (the “Purchase Contract Agent”), and the Remarketing Agent, Morgan Stanley will use its reasonable efforts to remarket (i) the Senior Notes that are components of the existing corporate units (the “Corporate Units”) or any Corporate Units recreated by holders of any treasury units (the “Treasury Units”) and (ii) any Senior Notes that are not part of the Corporate Units (the “Separate Notes”) and whose holders elect to have their Separate Notes remarketed. The Remarketing Agent will use its reasonable efforts to obtain a price for the remarketed Senior Notes that is no less than 100% of the sum of the purchase price for the remarketing Treasury portfolio and any amount due to holders of any remarketed Separate Notes (the “Remarketing Price”).  The remarketing Treasury portfolio will consist of U.S. Treasury securities (or principal or interest strips thereof) that mature on or prior to April 30, 2012 in an aggregate amount at maturity equal to (i) the principal amount of the Senior Notes that are components of Corporate Units and (ii) the interest payment that would be due on April 30, 2012 on the principal amount of the Senior Notes that would have been components of the Corporate Units assuming no remarketing and no reset of the interest rate on the Senior Notes, which is expected to be approximately $2 million.   If the Remarketing Agent is unsuccessful on the first day during such Early Remarketing Period, a subsequent remarketing will be attempted (unless impracticable) by the Remarketing Agent on each of the two following business days in that Early Remarketing Period until a successful remarketing occurs. 

To obtain the Remarketing Price, the interest rate on the remarketed Senior Notes may be reset to the rate determined by the Remarketing Agent, in consultation with Autoliv. In addition, Autoliv has elected to add to the Senior Notes a covenant that will require Autoliv, subject to certain conditions, to offer to repurchase the Senior Notes if a “change of control” occurs. The maturity date of the Senior Notes, April 30, 2014, will not change as part of the remarketing.

The aggregate principal amount of the Senior Notes currently outstanding is $106,273,000, all of which were issued as components of the Corporate Units and will be subject to the remarketing unless holders of the Senior Notes opt out of the remarketing by either creating Treasury Units or early settling the purchase contract component of the Corporate Units. Accordingly, the total amount to be raised in the remarketing is expected to be approximately $108 million, which is the sum needed to purchase the remarketing Treasury portfolio.  The Remarketing Agent will receive a fee of $500,000 in the event of a successful remarketing, which will be paid by the Company.

If the remarketing is successful, the remarketing is expected to settle on the third business day following the date of a successful remarketing, the earliest of which is expected to be on March 15, 2012 and, effective that date, the interest rate on the Senior Notes will be reset, the interest payment dates for the Senior Notes will be established, and any modification of the terms will apply to the Senior Notes.  

If the remarketing is unsuccessful, the Senior Notes will continue to pay interest at the annual rate of 8% and subsequent remarketings may be attempted. If any subsequent remarketings are not successful, there will be a final remarketing conducted during the three-business day period commencing on April 23, 2012.  If the final remarketing is also unsuccessful, the Senior Notes will continue to pay interest at the annual rate of 8% until maturity.

Autoliv has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the Senior Notes to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents Autoliv has filed with the SEC for more complete information about Autoliv and the remarketing.  You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov or from the Remarketing Agent by calling the toll-free number 1-866-718-1649.

No action has been or will be taken in any member state of the European Economic Area which has implemented the EC Prospectus Directive (each a “Relevant Member State”) to permit a public offering of the senior notes, or the distribution of a prospectus or any other offering material relating to the senior notes in compliance with the EC Prospectus Directive in any Relevant Member State.

This offer is only addressed to, and is only directed at, qualified investors in Sweden and in any other member state of the European Economic Area within the meaning of the EC Prospectus Directive (“qualified investors”).

This offer is only addressed to, and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”).  The senior notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such senior notes will be engaged in only with, relevant persons.  Any person who is not a relevant person should not act or rely on this communication.

Om oss

Autoliv Inc. är världens ledande bilsäkerhetsföretag. Företaget och dess dotterbolag utvecklar och tillverkar bilsäkerhetssystem till alla större biltillverkare i världen. Tillsammans med sina joint venture har Autoliv mer än 66 000 medarbetare i 27 länder. Dessutom har Autoliv 12 tekniska centra runt om i världen med 19 krockbanor. Bolagets aktier är noterade på New York Stock Exchange (NYSE:ALV) och dess svenska depåbevis på Nasdaq Stockholm (ALIV SDB). Mer information finns på Autolivs hemsida www.autoliv.com.

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