By Susanna Moon
Chicago, Oct. 26 – Klovern AB (publ) said it sold SEK 1.5 billion of four-year senior bonds at Stibor plus 390 basis points.
Proceeds will be used for general corporate purposes, including acquisitions and refinancing of the company’s January 2017 bonds, according to a company announcement.
The company will apply to list the notes on Nasdaq Stockholm's Corporate Bond List.
Klovern said on Oct. 20 that it had arranged fixed-income investor meetings for krona-denominated senior notes issue via Nordea Bank AB and Swedbank AB.
At the same time, the company began tendering for its SEK 1.15 billion floating-rate bonds due Jan. 19, 2017 via a new issue.
In the tender offer, for each SEK 1 million of principal bonds subscribed for by a holder, Klovern agreed to purchase from that holder SEK 1 million of the January 2017 bonds at a fixed cash price equal to 100.25% of par plus accrued interest to and including the settlement date of Nov. 2.
The tender offer ended at 11 a.m. ET on Oct. 25 and was contingent on closing of the new issue.
Klovern is a real estate company based in Nykoping, Sweden.
| Issuer: | Klovern AB (publ)
|
| Issue: | senior bonds
|
| Amount: | SEK 1.5 billion
|
| Maturity: | November 2020
|
| Coupon: | Stibor plus 390 bps
|
| Pricing date: | Oct. 26
|
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