Stendörren Fastigheter AB (publ) successfully issues subordinated perpetual green capital securities and announces the outcome of its voluntary tender offer

Press release

17 May 2024

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) (THE "SECURITIES ACT") 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.

Stendörren Fastigheter AB (publ) (“Stendörren” or the “Company”) has successfully issued subordinated perpetual green floating rate capital securities, with first call date three years after the initial pricing date, of SEK 300,000,000 under a framework of up to SEK 400,000,000 (the “New Capital Securities”). The New Capital Securities have a floating interest of 3M STIBOR + 550 basis points per annum until the first call date. Stendörren intends to list the New Capital Securities on Nasdaq Stockholm sustainable corporate bonds list. An amount corresponding to the net proceeds from the New Capital Securities will be used in accordance with the Company's previously established green financing framework and to buy back parts of Stendörren's SEK 800,000,000 outstanding subordinated capital securities with ISIN SE0013042413 (the "Existing Capital Securities").

Stendörren also announces the outcome of the voluntary tender offer that was announced on May 8, 2024 (the “Tender Offer”) to the holders of the Existing Capital Securities. The Tender Offer expired at 15:00 CEST on 16 May, 2024 and was subject to the terms and conditions set out in the tender information document dated 8 May 2024 which is available on the Company’s webpage via the link below (the “Tender Information Document”). Stendörren has received tenders in a total nominal amount of SEK 132,500,000 and intends to accept all tenders received.

The Company intends to complete the Tender Offer and the price for the the Existing Capital Securities is 101.00% of the nominal amount. Stendörren will also pay any Deferred Interest (if any) and any other accrued and unpaid interest up to (and including) the Redemption Date (each as defined in the applicable terms and conditions). The settlement date for the Tender Offer is expected to be on or about May 23, 2024.

The Tender Information Document is available on Stendörren’s website, via the following link: https://www.stendorren.se/en/investors/bonds/

Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) have acted as arrangers and joint bookrunners in connection with an issue of the New Capital Securities and dealer managers in connection with the Tender Offer. Vinge acted as legal counsel to the Company in connection with the New Capital Securities and the Tender Offer.

Dealer Managers:

Skandinaviska Enskilda Banken AB (publ): bondsyndicate@seb.se

Swedbank AB (publ): +46 8 700 90 22, liabilitymanagement@swedbank.se

For further information, please contact the Company at:

Erik Ranje, CEO, erik.ranje@stendorren.se or telephone: +46 8 518 331 00

Per-Henrik Karlsson, CFO, per-henrik.karlsson@stendorren.se or telephone: +46 72 158 70 92

Stendörren Fastigheter AB (publ)

Stendörren Fastigheter AB (publ) is an expansive property company listed on Nasdaq Stockholm Mid Cap. Our business concept is to create profitable growth in net asset value by managing, developing and acquiring properties and building rights within logistics, warehouse and light industry in Nordic growth regions. When commercially viable, we rezone such existing properties and thereby create residential building rights for further development and management, mainly in Greater Stockholm and the rest of the Mälardalen region.

For more information about Stendörren Fastigheter AB (publ), see: http://www.stendorren.se/en/