Balder announces results of tender offer for outstanding SEK notes
Fastighets AB Balder (publ) ("Balder") announces the results of its invitation to holders of its outstanding floating rate senior unsecured notes outlined below (the "Notes") to tender their Notes for purchase by Balder for cash (the “Tender Offer”) subject to the terms and conditions described in the tender information document dated 10 February 2023 ("Tender Information Document").
At the time of expiration of the Tender Offer at 14:00 CET on 16 February 2023, Balder had received valid tenders of SEK 890,000,000 aggregate nominal amount pursuant to the Tender Offer. Balder has determined that valid tenders of Notes in an aggregate principal amount equal to SEK 890,000,000 shall be accepted.
| Description of the Notes | ISIN | Nominal Amount Accepted for Tender | Purchase Price |
| SEK 300,000,000 FRN due January 2024 |
SE0010832931 | SEK 0 | 98.900% |
| SEK 1,000,000,000 FRN due March 2024 |
SE0011869684 | SEK 152,000,000 | 98.900% |
| SEK 1,900,000,000 green FRN due June 2024 |
SE0011869825 | SEK 556,000,000 | 98.500% |
| SEK 1,300,000,000 green FRN due December 2024 |
SE0013359494 | SEK 182,000,000 | 96.600% |
The Purchase Price for the Notes in the Tender Offer is set out above. Balder will also pay accrued and unpaid interest from, but excluding, the previous interest payment date until, and including, the settlement date. The settlement date for the Tender Offer will occur on 21 February 2023.
Settlement of the transactions pursuant to the Tender Offer will occur as a secondary trade via Svenska Handelsbanken AB (publ). All tendering holders should coordinate the trade bookings with their local sales representative immediately. Balder intends to cancel Notes purchased pursuant to the Tender Offer in accordance with the terms and conditions of the Notes.
Dealer Manager:
Svenska Handelsbanken AB (publ): +46 (0)8 46 348 98, liability.management@handelsbanken.se
For further information, please contact:
Erik Selin, CEO, tel. +46 (0)31-10 95 92
Ewa Wassberg, CFO, tel. +46 (0)31-351 83 99
Fastighets AB Balder is a listed property company that owns, manages and develops residential and commercial properties in Sweden, Denmark, Finland, Norway, Germany and the United Kingdom. The head office is located in Gothenburg. As of 31 December 2022, the property portfolio had a value of SEK 217.4 billion. The Balder share is listed on Nasdaq Stockholm, Large Cap.