Sernekes uses its right to conditional early redemption of outstanding bonds with a total nominal amount of SEK 500 million

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933), AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.

Serneke Group AB (publ) (the “Issuer”) has previously issued senior unsecured floating rate bonds with final redemption date on 31 December 2022, ISIN SE0011256338 (the “Bonds”). The Issuer has formally used its right to early voluntary redemption of the Bonds (the “Early Redemption”) in accordance with Clause 10.3 (Early voluntary redemption by the Issuer (call option)) of the terms and conditions for the Bonds and the Bonds will be redeemed early at a price per Bond equal to 102.50 per cent of the nominal amount per Bond plus any accrued and unpaid interest to, and including, the redemption date which is expected to be on 31 May 2022 (the “Redemption Date”).

The redemption amount, including accrued and unpaid interest, will be paid to each person who is registered as owner of Bonds in the debt register maintained by Euroclear Sweden at end of business on the record date, being 23 May 2022 (the “Record Date”). In connection with the Early Redemption, the Bonds will be delisted from Nasdaq Stockholm.

The Early Redemption of the Bonds is conditional upon the Issuer entering into a new facilities agreement and all conditions for receipt of funds being met, on or prior to the Record Date (the “Financing Condition”). Satisfaction of the Condition will be confirmed to the holders of the Bonds through a press release on or prior to the Record Date. If the Condition has not been satisfied prior to the Record Date, the redemption will not occur and it will, in such case, be confirmed to the bondholders through a press release on or prior to the Record Date.

For more information, please contact:

Anders Düring, CFO, Group
Tel: + 46 708 88 77 33
anders.during@serneke.se

Elisabeth Karlsson, Treasury Manager, Group
Tel: +46 702 33 79 77
elisabeth.karlsson@serneke.se

 

This information is information that Serneke is obliged to disclose pursuant to the EU Market Abuse Regulation and the (2007:528) Securities Market Act. The information was released for public disclosure, through the agency of the contact person above, on 5 May 2022 at 12.00 a.m. (CET)
 

Serneke is a rapidly growing corporate group active in contracting and project development. The Group was founded in 2002 and today has income of nearly SEK 8.7 billion and approximately 1,200 employees, organized into three business areas: Serneke Sweden, Serneke Invest and Serneke International. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industri al facilities, public buildings, roads and civil engineering projects, and other infrastructure. The company’s customers consist of both public and commercial clients. The Company’s Swedish units operate nationwide and are organized into five regions: South, West, East, Central and North, and are headquartered in Gothenburg. The Company’s Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.
 

More information about Serneke Group AB can be found at www.serneke.se