Ikano Bank announces pricing and results in respect of tender offer for outstanding SEK notes
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL
Ikano Bank AB (publ) announced a tender offer on 4 February 2025 targeting all outstanding SEK Senior Unsecured floating rate notes issued under Ikano Bank’s Medium Term Note Programme (the “Notes”) to tender any and all of the Notes for purchase by Ikano Bank for cash (the “Tender Offer”).
Results and pricing
The Tender Offer expired at 12:00 pm CET on 7 February 2025. Ikano Bank will accept all valid tender instructions pursuant to the Tender Offer. The results and pricing of the Tender Offer are set out below:
Description of the Notes / ISIN / Purchase spread / Purchase price / Amount accepted
SEK 500,000,000 FRN due November 2025 / SE0013361219 / DM+54 bps / 100.595% / SEK 268,000,000
SEK 600,000,000 FRN due January 2027 / SE0020356574 / DM+73 bps / 101.292% / SEK 328,000,000
Ikano Bank will also pay an amount equal to any accrued and unpaid interest on the Notes on the Settlement Date (as defined below) in accordance with the terms and conditions of the Notes.
Settlement
Settlement of the Tender Offer is expected to occur with settlement three business days from the expiration date of the Tender Offer, being 12 February 2025 (the “Settlement Date”).
Contact Information
Dealer Manager
Skandinaviska Enskilda Banken AB (publ)
Telephone: +44 7818 426 149
Email: liabilitymanagementdcm@seb.se
Ikano Bank AB (publ)
Telephone: +46 70 934 95 96
Email: fredrik.sannemo@ikano.se
About Ikano Bank AB (publ)
Ikano Bank creates possibilities for better living by offering simple, fair, and affordable services, enabling a healthy economy for the many people and businesses. Its offer includes savings and loan products for consumers, sales support services for retailers, and leasing and factoring solutions for businesses. Ikano Bank operates in Sweden, Denmark, Finland, Norway, the UK, Poland, Germany and Austria, and is a part of Ingka Group. Ikano Bank’s head office is located in Malmö, Sweden and the company is registered in Älmhult, Sweden where the business was once founded.
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