BEWI ASA confirms intention to refinance the senior secured floating rate bonds issued by BEWiSynbra Group AB (publ)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933), AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE, UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.

On 9 August 2021, BEWI ASA (the “Issuer”) announced its intention to refinance the up to EUR 100,000,000 Senior Secured Floating Rate Notes due 2022 (ISIN: SE0010985556) and the up to EUR 115,000,000 Senior Secured Floating Rate Notes due 2023 (ISIN: SE0013409455) (collectively referred to as the “Bonds”) issued by BEWiSynbra Group AB (publ) (a wholly owned subsidiary of BEWI ASA) (“BEWiSynbra”) by issuing new senior unsecured floating rate sustainability-linked bonds in an aggregate amount of up to EUR 160,000,000 under a framework of up to EUR 250,000,000 (the “New Bonds”), subject to BEWiSynbra obtaining approval from the holders of the Bonds (the “Bondholders”) to add an option for refinancing the Bonds in full before their respective final maturity date.

BEWiSynbra has today announced that the Bondholders have, by way of written procedures, approved certain proposed amendments to the respective terms and conditions of the Bonds in order to allow for an early redemption of the Bonds (as further described in the notices of written procedure published by BEWiSynbra and Nordic Trustee & Agency AB (publ), respectively, on 9 August 2021 (the “Notices”)). The amendments will become effective upon fulfilment of the conditions precedent set out in the Notices.

Subject to market conditions and BEWiSynbra utilising its option to redeem the Bonds early, BEWI ASA intends to refinance the Bonds by issuing the New Bonds.

For further information, please contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 975 61 959

Marie Danielsson, CFO BEWI ASA, tel: +46 70 661 0047

About BEWI ASA

BEWI ASA is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information was submitted for publication, through the agency of the contact person set out above, at 16:10 CEST on 19 August 2021

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