Aspo issues EUR 20 million capital securities and announces final tender offer results for its outstanding capital securities issued in 2016

ASPO Plc  
INSIDE INFORMATION     
April 23, 2020 at 5:45 p.m.

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Aspo issues EUR 20 million capital securities and announces final tender offer results for its outstanding capital securities issued in 2016

Aspo Plc (“Aspo” or the “Company” and together with its subsidiaries “Aspo Group”) issues new capital securities in the amount of EUR 20 million (the “New Capital Securities”). The New Capital Securities bear interest at a fixed interest rate of 8.75 percent, but the interest rate will be redefined on the second anniversary of the issue date of the New Capital Securities. The New Capital Securities do not have a specified maturity date, but the Company is entitled to redeem them for the first time on May 2, 2022, and thereafter, on each interest payment date. The net proceeds of the issuance will be used for partial tendering of the Company’s outstanding EUR 25 million 6.750 percent capital securities issued on May 27, 2016 (the “2016 Capital Securities”) and general corporate purposes.

“I am very pleased with the investor demand for this transaction despite the exceptional market situation, and it is a strong indication of the investors’ confidence and appreciation of Aspo conglomerate. The transaction supports the company's capital structure and strategy implementation well”, stated Aki Ojanen, the CEO of Aspo.

The issue date for the New Capital Securities is April 30, 2020. Due to the issue, the condition relating to the pricing and issue of New Capital Securities (the “New Issue Condition”) in accordance with the voluntary cash tender offer (the “Tender Offer”) has been fulfilled, subject to the issuance agreement remaining in full force and effect on the settlement date as described in the Tender Offer Memorandum. The aggregate nominal amount of the 2016 Capital Securities accepted for purchase pursuant to the Tender Offer is EUR 18,400,000. The purchase price of the 2016 Capital Securities is EUR 100,000 per note with nominal amount of EUR 100,000. Accrued and unpaid interest will be paid in respect of all the 2016 Capital Securities validly tendered and delivered and accepted for purchase. The settlement date of the Tender Offer is April 30, 2020. All 2016 Capital Securities purchased by the Company will be cancelled. The Company expects to redeem the 2016 Capital Securities not tendered and purchased in the Tender Offer on May 27, 2020 in accordance with the terms and conditions of the 2016 Capital Securities.