Stendörren Fastigheter AB (publ) contemplates issuance of green senior unsecured notes and announces a tender offer of the outstanding senior unsecured 2021/2024 notes

2023-09-11

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 mandated Danske Bank A/S, Danmark, Sverige Filial, Nordea Bank Abp and Swedbank AB (publ) as arrangers and joint bookrunners to arrange a series of fixed income investor meetings starting on 11 September 2023, to explore the possibility of issuing green senior unsecured notes under a framework of up to SEK 600 million and a tenor of 3.25 years (the “New Notes”). Subject to prevailing market conditions, a capital markets transaction may follow.

In conjunction with the contemplated issue of the New Notes, Stendörren has today announced an invitation to holders of its SEK 700 million senior unsecured notes due in April 2024 with ISIN SE0015503545 (the “Notes”), to tender any and all of their Notes for purchase by the Company for cash at a price of 101.46 per cent. of the nominal amount plus accrued and unpaid interest (the “Tender Offer”). The Notes will be repurchased subject to the terms described in the tender information document dated 11 September 2023 which is available on the Company’s webpage via the link below (the “Tender Information Document”).

The Tender Offer expires at 12:00 CEST on 14 September 2023, unless extended, re-opened, withdrawn or terminated at the sole discretion of the Company. Settlement of the Tender Offer is expected to occur on or around 21 September 2023. Stendörren’s repurchase of any Notes is conditional upon a successful issue of the New Notes and subject to the terms in the Tender Information Document. Stendörren will, in connection with the allocation of the New Notes, consider, among other factors, whether or not the relevant investor seeking an allocation of the New Notes has, prior to such allocation, validly tendered Notes pursuant to the Tender Offer, subject to the terms in the Tender Information Document.

In case of an issue of New Notes in volumes satisfactory for such purpose, Stendörren, in its own discretion, contemplates to exercise its right to make a voluntary early redemption of the Notes not being tendered in the Tender Offer, in accordance with the terms and conditions in respect of the Notes. The Notes will in such an early redemption event be redeemed at a price equal to 101.46 per cent. of the nominal amount together with any accrued and unpaid interest.

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

Danske Bank A/S, Danmark, Sverige Filial, Nordea Bank Abp and Swedbank AB (publ) have been mandated to act as arrangers and joint bookrunners in connection with an issue of the New Notes and dealer managers in connection with the Tender Offer. Swedbank AB (publ) has acted as sole structuring advisor to the Company in relation to their green financing framework verified by ISS ESG. Vinge acts as legal counsel to the Company in connection with the New Notes and the Tender Offer.

Dealer Managers:
 

Danske Bank A/S, Danmark, Sverige Filial: [email protected]

Nordea Bank Abp: +45 6136 0379, [email protected]

Swedbank AB (publ): +46 8 700 90 22, [email protected]

For further information, please contact the Company at:
Erik Ranje, CEO, [email protected] or telephone: +46 8 518 331 00

Per-Henrik Karlsson, CFO, [email protected] or telephone: +46 72 158 70 92

This information is information that the Company is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:15 CEST on September 11, 2023.

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 in-house 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/