Caverion issues clean-up call for 2.75% notes due 2027

By Marisa Wong

Los Angeles, Feb. 16 – Caverion Corp. gave notice that it will redeem all of its outstanding 2.75% notes due Feb. 25, 2027 (ISIN: FI4000518212), according to a press release.

On Jan. 29, Caverion had repurchased €72.1 million of the original €75 million principal amount under a buyback offer, leaving €2.9 million principal amount outstanding.

Given that the remaining amount represents 3.87% of the original issue, the company is entitled to exercise the notes’ clean-up call option.

The outstanding notes will be redeemed on March 4 at par plus accrued interest to but excluding the redemption date.

All of the redeemed notes will be canceled and delisted from the Helsinki stock exchange.

The redemption notice is irrevocable, according to the press release.

Caverion is a building technology and industrial services company based in Helsinki, Finland.

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