Metso announces intention to issue new notes and announces voluntary tender offer
Metso announces intention to issue new notes and announces voluntary tender offer
Metso Corporation's stock exchange release on May 30, 2017 at 10:50 EET
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (the "United States") OR TO ANY U.S. PERSON (AS DEFINED BELOW) OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" BELOW).
Nordea Bank AB (publ) (the "Offeror") has today launched an invitation to holders of the outstanding €400,000,000 2.750 per cent notes due October 4, 2019 (the "Notes") issued by Metso Corporation (the "Company" or "Metso"), to tender their Notes for purchase by the Offeror for cash on the terms and conditions set out in the Tender Offer Memorandum dated May 30, 2017 (the "Offer").
At the same time, Metso also announces its intention to issue new Euro-denominated notes (the "New Notes") under its €1,500,000,000 Euro Medium Term Note Program. Whether the Offeror will accept for purchase any Notes validly tendered in the Offer is subject to, without limitation, the pricing of the issue of the New Notes and the signing by the Company and the Joint Lead Managers of a subscription agreement for the purchase of, and subscription for, the New Notes.
Subject to the Minimum Denomination in respect of the Notes, the purchase price payable per EUR 1,000 in principal amount of the Notes will be determined as provided in the Tender Offer Memorandum by reference to a fixed purchase yield of -0,15 per cent. In respect of any Notes accepted for purchase, the Offeror will also pay an amount equal to any accrued and unpaid interest on the Notes.
The purpose of the Offer and the proposed issue of the New Notes is to extend the Company's debt maturity profile in an efficient manner.
Lesen Sie auch
The Offer period begins on May 30, 2017 and closes at 17:00 (CET) on June 7, 2017 unless extended, re-opened, withdrawn or terminated early at the sole discretion of the Offeror.
Citigroup Global Markets Limited and Nordea Bank AB (publ) act as Lead Dealer Managers and Danske Bank A/S, and OP Corporate Bank plc act as Co-Dealer Managers for the Offer and Citibank N.A., London Branch acts as Tender Agent. For further information regarding the Offer, please contact your sales contacts at one of the Dealer Managers or the Tender Agent +44 20 7508 3867 / exchange.gats@citi.com.