Inside information: Caverion Corporation to redeem its outstanding notes due 25 February 2027
Caverion Corporation Inside Information 16 February 2024 at 16:15 EET
Inside information: Caverion Corporation to redeem its outstanding notes due 25 February 2027
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
This notice is made in respect of the Caverion Corporation senior unsecured 2.750 per cent notes due 25 February 2027 (ISIN: FI4000518212), the original principal amount of which was EUR 75 million (the “Notes”).
Caverion Corporation (“Caverion”) hereby gives a notice to the holders of Notes (the “Noteholders”) that it will redeem all the outstanding Notes in accordance with Condition 5.3 (Clean-up Call Option) of the terms and conditions of the Notes.
On 29 January 2024, Caverion repurchased by way of a repurchase offer Notes amounting to a principal amount of EUR 72,100,000 (the “Repurchase Offer”). The remaining outstanding aggregate principal amount of the Notes after the completion of the Repurchase Offer is EUR 2,900,000, representing approximately 3.87 per cent of the original aggregate principal amount of the Notes. Caverion is thus entitled to redeem all of the outstanding Notes in accordance with Condition 5.3 (Clean-up Call Option) of the terms and conditions of the Notes.
The outstanding Notes will be redeemed on 4 March 2024 (the “Redemption Date”) in accordance with the terms and conditions of the Notes. On the Redemption Date, Caverion will pay to the Noteholders a redemption price per Note equal to 100 per cent of their principal amount together with any accrued but unpaid interest. Interest on the Notes to be redeemed accrues until (but excluding) the Redemption Date.
This notice of redemption is irrevocable. All the outstanding Notes redeemed by Caverion will be cancelled and de-listed from the official list of the Helsinki Stock Exchange maintained by Nasdaq Helsinki Ltd in connection with the redemption.
Distribution:
Nasdaq Helsinki, key media, www.caverion.com
ABOUT CAVERION
Caverion is a public limited liability company incorporated under the laws of Finland with its shares listed on the official list of Nasdaq Helsinki. Caverion is a Northern & Central European-based expert for smart and sustainable built environments, enabling performance and people’s well-being. Caverion offers expert guidance during the entire life cycle of buildings, infrastructure or industrial sites and processes: from design & build to projects, technical and industrial maintenance, facility management as well as advisory services. At the end of December 2022, there were almost 14,500 professionals serving customers at the service of Caverion Group in 10 countries.
For additional information, please contact:
Mikko Kettunen, CFO, tel. +358 50 3477462, mikko.kettunen@caverion.com
Caverion is an expert for smart and sustainable built environments, enabling performance and people’s well-being. Customers can trust our expertise during the entire life cycle of their buildings, infrastructure or industrial sites and processes: from installation and maintenance of base and smart technologies, to managed services as well as advisory and engineering services and digital solutions. Our customers are supported by about 15,000 Caverion professionals in 10 countries in Northern and Central Europe. Our revenue in 2023 was about EUR 2.5 billion.
www.caverion.com @CaverionGroup
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