Atlas Copco accepts €186.17 million of 2.5% notes from tender offer

Chicago, Feb. 4 – Atlas Copco AB announced that it will accept for purchase all of the €186,165,000 tendered notes from its offer to purchase any and all of its €500 million outstanding 2.5% notes due Feb. 28, 2023 (ISIN: XS0896144655), according to a notice.

The purchase price was calculated using a purchase yield of negative 45 basis points. With the expected settlement date of Feb. 8, the purchase price will be 103.126. The purchase price will also include an accrued interest payment.

After the tender offer settles, there will be €313,835,000 of the notes outstanding.

The tender offer is conditioned on new financing. Atlas will be selling new euro-denominated fixed-rate notes to fund the tender offer.

The offer is part of the company’s management of its liabilities to proactively manage its refinancing requirements.

The expiration deadline of the tender offer was 11 a.m. ET on Feb. 3.

Dealer managers for the offer are BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com) and Skandinaviska Enskilda Banken AB (publ) (+46 8 506 231 31, liabilitymanagementdcm@seb.se).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, atlascopco@lucid-is.com, https://deals.lucid-is.com/atlascopco).

Atlas Copco makes compressors, construction and mining tools and equipment, power tools and assembly systems. The company is based in Stockholm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.