Ikano Bank announces tender offer regarding outstanding bonds
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW.
Ikano Bank AB (publ) (the "Issuer" or "Ikano Bank") is offering holders of the Issuer's outstanding floating rate senior unsecured bonds with maturity on 28 November 2022, with outstanding amount of SEK 450 million (ISIN: SE0011870039) (the "Notes"), to tender any and all Notes for purchase by the Issuer for cash ("Tender Offer") at a price of 100.00 percent of the nominal amount, in addition to accrued and un-paid interest. The Notes will be repurchased subject to the terms and conditions described in the tender information document dated 18 October 2022 ("Tender Information Document").
The Tender Information Document can be found via the following link:
https://ikanobank.se/om-banken/ekonomisk-information
The Tender Offer expires at 12:00 CEST on 20 October 2022, unless extended, re-opened, withdrawn or terminated at the sole discretion of the Issuer. Settlement of the Tender Offer is expected to occur on 24 October 2022. The issuer intends to cancel any Notes purchased pursuant to the Tender Offer
Ikano Bank has mandated Nordea Bank Abp to act as Dealer Manager for the Tender offer.
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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