VNV Global has successfully placed a 3-year senior unsecured bond issue and gives conditional notice of early redemption of bond series 2022/2025
With reference to the press release issued by VNV Global AB (publ) (“VNV” or the “Company”) on 16 September 2024, the Company today announces that it has successfully placed a new senior unsecured bond (the “Bonds”).
The Bonds, in an initial amount of SEK 850 million within a framework of SEK 1,250 million (ISIN: SE0022761011), will be issued at a price of 99.00 per cent. of the nominal amount, run with a tenor of three years and carry a floating rate coupon of 3m STIBOR + 550 bps. In addition to customary terms, the bond terms also include a provision allowing VNV, upon the completion of the Gett transaction, to fully or partially redeem the new bonds at a price of 100.00 per cent. of the nominal amount. The transaction attracted demand from a wide range of Nordic and international investors and was significantly oversubscribed.
VNV intends to fully redeem its outstanding bonds with ISIN SE0017483019 (the “Outstanding Bonds”), a conditional notice of early redemption will be sent to directly registered owners of Outstanding Bonds in the debt register as at the end of business on 19 September 2024. The redemption of Outstanding Bonds is conditioned upon successful settlement of the new bond issue and is expected to occur on 31 October 2024. The Outstanding Bonds will be redeemed at a price of 100.00 per cent. of the nominal amount together with any accrued and unpaid interest. Such amounts will be paid to each person directly registered as owner of Outstanding Bonds in the debt register at the end of business on 24 October 2024.
Pareto Securities acted as Sole Bookrunner in conjunction with the bond issue. Gernandt & Danielsson Advokatbyrå acted as legal advisor.
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