Stockmann announces conditional early redemption of notes due 2018
STOCKMANN plc, Inside Information 29.11.2017 at 19:40 EET
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Stockmann plc (the “Issuer” or “Stockmann”) gives conditional notice that it will redeem in full its outstanding EUR 150 million 3.375 per cent notes due 2018 (ISIN: FI4000051057) (the "Notes") (the "Early Redemption").
Capitalised terms used herein shall have the meaning ascribed to them in the consent solicitation memorandum dated 16 November 2017 (the “Consent Solicitation Memorandum”).
The Early Redemption Settlement Date is set to 12 December 2017. As determined in the manner described in the terms and conditions of the Notes and with reference to a fixed purchase yield of 0.58 per cent, all Notes will be redeemed at the Redemption Price of EUR 1,007.38 per each EUR 1,000.00 in principal amount of Notes. Any accrued and unpaid interest will also be paid in respect of the Notes in accordance with the terms and conditions of the Notes.
The Redemption Price will be paid to each investor who is registered as a Noteholder in the noteholders’ register maintained by Euroclear Finland at end of business on 11 December 2017.
The Early Consent Fee of 0.20 per cent in respect of the Notes will be paid no later than 10 days following the Early Redemption Settlement Date to eligible Noteholders in accordance with the terms and conditions of the Consent Solicitation, as fully described in the Consent Solicitation Memorandum.
This notice of Early Redemption is conditional on the successful settlement of the issue of the EUR 250 million senior secured notes announced earlier today (the "New Notes"). No separate announcement will be released if this condition has been fulfilled.
For questions relating to the Early Redemption or the Consent Solicitation, please contact the Solicitation Agents.
Danske Bank A/S
Tel.: +358 10 513 8794 / Email: firstname.lastname@example.org
Nordea Danmark, filial af Nordea Bank AB (publ), Sverige
Tel.: +45 6161 2996 / Email: NordeaLiabilityManagement@nordea.com
OP Corporate Bank plc
Tel.: +358 10 252 1668 / Email: email@example.com
Nordea Bank AB (publ), Finnish Branch
Aleksis Kiven katu 3-5
OP Corporate Bank plc
Kai Laitinen, CFO, tel. +358 9 121 5800
This announcement is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of Stockmann. No actions have been taken to register or qualify the New Notes, or otherwise to permit a public offering of the New Notes, in any jurisdiction.
The distribution of this announcement may, in certain jurisdictions, be restricted by law. This announcement and any material or documentation related to the Early Redemption or the issuance of the New Notes may be received only in compliance with applicable exemptions or restrictions. This announcement and any such material or documentation may not be distributed or published in any jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of such jurisdiction. Persons into whose possession this announcement or any such material or documentation may come are required to inform themselves of and observe all such restrictions. Stockmann nor the Lead Managers nor their representatives accept any legal responsibility for any violation by any person, whether or not the persons contemplating investing in or divesting Stockmann's securities including the New Notes are aware of such restrictions.
Any securities mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and any such securities may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of any U.S. person (as such terms are defined in Regulation S under the Securities Act).