Ikano Bank announces results of tender offer for outstanding bonds
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Ikano Bank AB (publ) ("Ikano Bank") announces the results of its invitation to holders of its outstanding floating rate senior unsecured bonds with maturity on 28 November 2022 and outstanding amount of SEK 450 million (ISIN: SE0011870039) (the "Notes") to tender their Notes for purchase by Ikano Bank for cash (the “Tender Offer”).
As of the time of expiration of the Tender Offer at 12.00 CEST on 20 October 2022, Notes in a total aggregate nominal amount of SEK 246,000,000 had been validly tendered pursuant to the Tender Offer. Ikano Bank hereby announces it has accepted all Notes validly tendered for purchase.
The purchase price equal to 100.00 per cent of the nominal amount together with accrued and unpaid interest of the Notes, will be paid to holders whose Notes have been accepted for purchase by Ikano Bank. Settlement of the Tender Offer will occur on 24 October 2022.
Settlement of the transactions pursuant to the Tender Offer will occur as a secondary trade via Nordea Bank Abp. Ikano Bank intends to cancel Notes purchased pursuant to the Tender Offer in accordance with the terms and conditions of the Notes.
Dealer Manager
Nordea Bank Abp: +45 61 36 03 79, nordealiabilitymanagement@nordea.com
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. Our offer includes savings and loan products for consumers, sales support services for retailers, and leasing and factoring solutions for businesses. We conduct business in Sweden, Denmark, Finland, Norway, the UK, Poland, Germany and Austria. Ikano Bank is a part of the Ikano Group who owns 51 % of Ikano Bank. Ingka Group, the largest IKEA retailer representing about 90% of IKEA retail sales and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V., owns the remaining 49 % of the Bank. 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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