Vapo Oy announces tender offer for its outstanding hybrid notes
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Vapo Oy (the “Company“) announces today that it invites the holders of the outstanding EUR 50 million 6.50 per cent fixed-rate hybrid notes issued by the Company on 8 November 2016 (ISIN: FI4000224142) (the “Capital Securities“), to tender their Capital Securities for cash on the terms and conditions set out in the tender offer memorandum dated 12 June 2020 (the “Tender Offer“).
The Company proposes to accept for purchase an aggregate principal amount of Capital Securities validly tendered in the Tender Offer of up to EUR 25 million, although the Company reserves the right, in its sole discretion, to decide on the acceptance of the Capital Securities, including not to accept any Capital Securities. If the Company decides to accept for purchase valid tenders of Capital Securities pursuant to the Tender Offer and the aggregate nominal amount of the Capital Securities validly tendered pursuant to the Tender Offer is not greater than the amount of the Capital Securities that the Company decides to accept for purchase (the “Final Acceptance Amount“), the Company intends to accept all such Capital Securities for purchase. If the aggregate nominal amount of Capital Securities validly tendered pursuant to the Tender Offer is greater than the Final Acceptance Amount, the Company intends to accept such Capital Securities for purchase on a pro rata basis in such a manner that the aggregate nominal amount of Capital Securities accepted for purchase is no greater than the Final Acceptance Amount.
The purchase price of the Capital Securities is 100.00 per cent of the nominal amount of the Capital Securities. Accrued and unpaid interest will be paid in respect of all Capital Securities validly tendered and delivered and accepted for purchase.
The offer period commences on 12 June 2020 and expires at 4.00 pm Finnish time (EET) on 25 June 2020. The completion date and the final results of the Tender Offer will be announced as soon as feasible, on or about 26 June 2020. The settlement date is expected to be 1 July 2020.
Capital Securities purchased by the Company in the Tender Offer will be cancelled by the Company and will not be re-issued or re-sold. Capital Securities which have not been validly tendered and accepted for purchase pursuant to the Tender Offer will remain outstanding.
Nordea Bank Abp acts as Dealer Manager and Tender Agent for the Tender Offer. Information in respect of the Tender Offer may be obtained from the Dealer Manager.
Dealer Manager and Tender Agent:
Nordea Bank Abp: e-mail: NordeaLiabilityManagement@nordea.com / tel: +45 61360379
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or the United States or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful.