Heimstaden Bostad AB (publ) Announces Tender Offer for Its EUR 800 Million Perpetual Hybrid Securities and Mandate for New Hybrid Securities
Tender Offer
Today, Heimstaden Bostad AB (publ) (“Heimstaden Bostad”) is launching an offer to the holders of its EUR 800 million perpetual non-call hybrid securities with the first reset date on 19 February 2025 (ISIN XS2010037765) (referred to as the “Hybrid Securities”) to tender any and all of their Hybrid Securities for purchase by Heimstaden Bostad for cash at a fixed purchase price of 100.00% of the nominal amount, plus accrued but unpaid interest up to (but excluding) the settlement date for the tender offer (referred to as the “Tender Offer”).
The Hybrid Securities will be repurchased subject to the terms and conditions described in the tender offer memorandum dated 25 November 2024 (referred to as the ”Tender Offer Memorandum”), including the satisfaction or waiver of the New Financing Condition (as set out in the Tender Offer Memorandum).
The purpose of the Tender Offer is, amongst other things, to proactively improve the financial metrics of Heimstaden Bostad.
The Tender Offer expires at 17:00 CET on 2 December 2024, unless extended, re-opened, withdrawn, or terminated at the sole discretion of Heimstaden Bostad.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 5 December 2024.
Dealer Managers: BNP Paribas, Citi, Deutsche Bank, J.P. Morgan, and Nordea.
Mandate for New Hybrid Securities
Furthermore, Heimstaden Bostad has also mandated BNP Paribas, Citi, Deutsche Bank, J.P. Morgan, and Nordea as Joint Bookrunners to arrange a series of fixed income investor calls commencing today, Monday 25 November 2024. An investor presentation is available.
A new EUR 500 million (no grow) Reg S Bearer Perpetual Non-Call 5.25-year hybrid issue, with expected rating BB by S&P and BB by Fitch, may follow subject to market conditions.
Contact:
Frederik Stentoft Berling, Media
+45 2130 9489, 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 25 November 09:30 CET.