Corem issues green bonds of SEK 2,350 million and announces results from tender offer for the outstanding Klövern 2018/2022 SEK bonds

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW.

Bond issue

Corem Property Group AB (publ) (the “Issuer” or “Corem”) has successfully issued senior unsecured green bonds in the total amount of SEK 2,350,000,000. The bonds have a tenor of 2.75 years and a floating interest rate of STIBOR three months plus 275 bps and will mature on 21 October 2024 (the “New Bonds”). Corem intends to apply for listing of the New Bonds on the sustainable bond list of Nasdaq Stockholm.

Tender offer

Corem further announces the results of the tender offer (the “Tender Offer“) to the holders of its subsidiary Klövern AB (publ)’s outstanding senior unsecured floating rate bonds maturing on 4 April 2022 with ISIN SE0011063163 and outstanding amount of SEK 2,350,000,000 (the “Bonds”). The Tender Offer expired at 12:00 CET on 13 January 2022. The Tender Offer has been accepted by holders of Bonds representing a total nominal amount of SEK 1,897,900,000.

Corem will complete the Tender Offer and accepts all tendered Bonds for purchase. The price for the Bonds in the Tender Offer amounts to 100.20 per cent of the nominal amount. Corem will also pay accrued and unpaid interest from, but excluding, the previous interest payment date until, and including, the settlement date. Settlement for the Tender Offer is expected to occur on 21 January 2022.

Settlement of the Tender Offer will occur as a secondary trade via Nordea Bank Abp and Swedbank AB (publ) (the “Dealer Managers”). All bondholders participating in the Tender Offer should coordinate the trade bookings with their local sales representative immediately.

Information about the Tender Offer may be obtained from the Dealer Managers.

Dealer Managers
Nordea Bank Abp: +45 6136 0379, NordeaLiabilityManagement@nordea.com
Swedbank AB (publ): +46 (0)8 700 90 22, Syndicate@swedbank.se


Corem Property Group AB (publ)


FOR FURTHER INFORMATION, PLEASE CONTACT
Jens Andersson, Head of Finance, +46 76 855 67 02, jens.andersson@corem.se
Eva Landén, CEO, +46 8 503 853 33, eva.landen@corem.se

Corem Property Group AB (publ)
Address: P.O. Box 56085, SE-102 17 Stockholm
Visitors: Riddargatan 13 C
Reg.no: 556463-9440
www.corem.se
 

This press release is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.