Sweden’s Gothenburg tenders for 1.63% notes, three series of floaters

By Susanna Moon

Chicago, Sept. 2 – The City of Gothenburg, Sweden is tendering for four series of its notes issued in an offer by Nordea Bank Danmark A/S.

The tender offer will end at 5:30 a.m. ET on Sept. 6, with settlement expected to follow between Sept. 13 and Sept. 16.

The company will accept a maximum amount of tendered notes with a purchase price per SEK 1 million principal amount as follows, according to a notice:

• 100.108 for the SEK 50 million floating-rate notes due Nov. 16, 2016;

• 100.130 for the SEK 1,393,000,000 floating-rate notes due Dec. 5, 2016;

• 100.499 for the SEK 125 million 1.63% notes due Dec. 5, 2016; and

• 100.382 for the SEK 500 million floating-rate notes due Aug. 12, 2017.

Holders also will receive accrued interest up to but excluding the settlement date.

The issuer also plans to issue new SEK-denominated fixed- and floating-rate notes under its €6 billion euro medium-term notes program, subject to market conditions.

The offer will be contingent on the issuer issuing the new notes with enough proceeds to fund the tender, the release noted.

The tender is being made “to proactively manage the issuer’s upcoming redemptions and to lengthen and diversify its debt maturity profile,” the release added.

The acceptance form may be obtained by contacting Nordea Bank at +45 6161 2996 or nordealiabilitymanagement@nordea.com. The dealer managers are Nordea Bank (+45 6161 2996 or nordealiabilitymanagement@nordea.com) and Svenska Handelsbanken AB (publ) (+46 8 463 46 09 or tendermanagement@handelsbanken.se).

© 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.