Heimstaden AB Announces Tender Offer to Repurchase SEK Bonds

Tender offer

Heimstaden AB (“Heimstaden”) is today launching a cash tender offer, to eligible holders of the company’s outstanding senior unsecured floating rate bonds set out below (the “Bonds”) to repurchase such Bonds up to a maximum principal amount such that the total purchase consideration for Bonds does not exceed SEK 1,000 million (which amount can be increased, decreased or removed at Heimstaden’s sole discretion) (the “Tender Offer”). The Bonds will be repurchased subject to the terms and conditions described in the tender information document dated 21 August 2023 which is attached to this press release (the “Tender Information Document”).

The purpose of the Tender Offer is, amongst other things, to proactively improve Heimstaden’s liability composition and debt maturity profile.

The Tender Offer covers the following Bonds:

• SEK 1,200 million Senior Unsecured Floating Rate Bonds 2020/2024

(ISIN: SE0014991345)

• SEK 1,200 million Senior Unsecured Floating Rate Bonds 2020/2025

(ISIN: SE0014991352)

• SEK 500 million 2022/2025 Floating Rate Notes

(ISIN: XS2469914308)

The Tender Offer will be priced via an unmodified Dutch auction procedure as set out in the Tender Information Document. Expiration of the Tender Offer will be at 12.00 CEST on 25 August 2023, unless extended, re-opened, withdrawn, or terminated at the sole discretion of Heimstaden. Settlement of the Tender Offer is expected to occur on or around 1 September 2023.

The Tender Offer will be financed with Heimstaden’s existing cash position. Heimstaden is managing its upcoming debt maturities by way of its previously communicated strategy of deleveraging the balance sheet.

The terms and conditions of the Bonds will continue to be in effect for bondholders who do not participate in the Tender Offer or whose Bonds are not accepted for repurchase by Heimstaden.

The full terms and conditions of the Tender Offer including the terms for eligibility to participate, the pricing mechanism and the timeline for the Tender Offer is available in the Tender Information Document.

Dealer Managers

Nordea Bank Abp:         nordealiabilitymanagement@nordea.com

Swedbank AB (publ):     liabilitymanagement@swedbank.se

Contact:
Rutger Kaeding, Head of Corporate Finance
+45 24 40 05 86
rutger.kaeding@heimstaden.com

Malin Lethenström, Head of IR
+44 77 48 05 58 21
ir@heimstaden.com

 Heimstaden is a leading European residential real estate manager and investor with around 160,000 homes across 10 countries with a property value of SEK 340 billion. We acquire, develop, and manage properties with an evergreen perspective. Guided by our Scandinavian heritage and values Care, Dare and Share – we fulfil our mission to enrich and simplify our customers’ lives through Friendly Homes. Heimstaden is listed on Nasdaq First North Growth Market. Read more at www.heimstaden.com.

This information is such information that Heimstaden 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 21 August 2023 at 09:15 CEST.