Heimstaden Bostad AB (publ) Announces Tender Offer for Certain NOK Senior Unsecured Notes and Call for Redemption of Certain NOK and SEK Senior Unsecured Notes
Tender Offer
Today, Heimstaden Bostad AB (publ) (“Heimstaden Bostad”) is launching an offer to the holders of its NOK 1,250 million floating rate notes due April 2026 (ISIN NO0010976327) - of which NOK 178,000,000 is currently held by Heimstaden Bostad - (referred to as the “2026 Notes”) and its NOK 350 million floating rate notes due April 2028 (ISIN NO0010976335) (referred to as the “2028 Notes”), (together referred to as the “Notes”), to tender any and all of their 2026 Notes for purchase by Heimstaden Bostad for cash at a fixed purchase price of 100.00%, and any and all of their 2028 Notes for purchase by Heimstaden Bostad for cash at a fixed purchase price of 99.355%, of the nominal amount of the respective Notes, plus accrued but unpaid interest up to (but excluding) the settlement date for the tender offer (referred to as the “Tender Offer”). The Notes will be repurchased subject to the terms and conditions described in the tender information document dated 14 November 2024 attached to this press release (referred to as the “Tender Information Document”).
The purpose of the Tender Offer is, among other things, to proactively improve Heimstaden Bostad’s liability composition and debt maturity profile.
The Tender Offer expires at 144:00 CET on 19 November 2024, unless extended, re-opened, withdrawn, or terminated at the sole discretion of Heimstaden Bostad. Settlement of the Tender Offer is expected to occur on or around 22 November 2024.
The terms and conditions of the Notes will continue to be in effect for noteholders who do not participate in the Tender Offer and/or whose Notes are not accepted for repurchase by Heimstaden Bostad. The full terms and conditions of the Tender Offer can be found in the Tender Information Document.
Redemption of Called Notes
In addition, Heimstaden Bostad also announces that it has given irrevocable notice to the noteholders of its outstanding NOK 400 million floating rate notes due February 2025 (NO0010906944) and SEK 800 million floating rate notes due February 2025 (XS2259800121) (together referred to as the “Called Notes”) that it exercises its option to redeem all outstanding Called Notes pursuant to clause 7.4 (Redemption at the option of the Issuer (Issuer Par Call)) of the terms and conditions of the Called Notes.
The Called Notes will be redeemed on 25 November 2024 at a price of 100.00% of the nominal amount of the respective Called Notes, plus accrued but unpaid interest up to (but excluding) 25 November 2024.
Sole Dealer Manager: Nordea Bank Abp, nordealiabilitymanagement@nordea.com
Contact:
Frederik Berling, Media
+45 21 30 94 89, media@heimstaden.com
Cody Nelson, Investor Relations
+47 948 94 196, ir@heimstaden.com
About Heimstaden Bostad:
Heimstaden Bostad is a leading European residential real estate company with around 162,000 homes across nine countries with a property value of SEK 330 billion. We acquire, develop, and manage properties with an evergreen perspective. Guided by our Scandinavian heritage and values Dare, Care, and Share – our about 2,000 colleagues fulfil our mission to enrich and simplify our customers’ lives through Friendly Homes. Read more at www.heimstadenbostad.com.
This information is such information that Heimstaden Bostad AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact persons, for publication on 14 November at 08:55 CET.