Neste Corporation Announces Indicative Tender Offer Results

Neste Corporation

Stock Exchange Release

31 May 2017 at 9.00 am (EET)

 

Neste Corporation Announces Indicative Tender Offer Results

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW NOTES , THE TENDER OFFERS  OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

Neste Corporation (the "Company") announces today the indicative results of the invitation to the holders of its EUR 400,000,000 4.00 per cent. notes due 18 September 2019 (ISIN: FI4000047360) (the "2019 Notes") and EUR 500,000,000 2.125 per cent. notes due 17 March 2022 (ISIN: FI4000148671) (the "2022 Notes", and together with the 2019 Notes, the "Notes") to tender their Notes for cash on the terms and conditions set out in the tender offer memorandum dated 18 May 2017 (the "Tender Offer Memorandum") (the "Tender Offers"). Capitalised terms used in this release but not defined have the meanings given to them in the Tender Offer Memorandum.

 

At the Expiration Deadline of 4:00 p.m. (Finnish time) on 30 May 2017, valid Tender Instructions of EUR 252,753,000 in aggregate nominal amount of 2019 Notes and EUR 178,700,000 in aggregate nominal amount of 2022 Notes were received pursuant to the Tender Offers.

 

The Company announces its indicative and non-binding intention to accept for purchase EUR 252,753,000 in aggregate nominal amount of 2019 Notes and EUR 178,700,000 in aggregate nominal amount of 2022 Notes pursuant to the Tender Offers.

 

Accordingly, pursuant to the terms and conditions of the Tender Offer Memorandum, all valid tenders are expected to be accepted in full with no proration of Notes.

 

Whether the Company will accept for purchase any Notes validly tendered in the Tender Offers is subject (unless such condition is waived by the Company on its sole and absolute discretion), without limitation, to the completion of the issue of the New Notes. As at the date of this release, the New Issue Condition has not yet been fulfilled.

 

The Pricing Date and Pricing Time of the 2022 Tender Offer will be on 31 May 2017 at or around 12:00 p.m. (Finnish time), and the final tender offer results and the Completion Date will be announced as soon as feasible after the Pricing Time on or about 31 May 2017. 

 

Nordea Bank AB (publ) acts as Dealer Manager and Nordea Bank AB (publ), Finnish Branch acts as Tender Agent for the Tender Offers. Information in respect of the Tender Offers may be obtained from the Dealer Manager: email: [e-mail] / tel: [phone].

 

For more information, please contact:

 

Neste Corporation

Mika Rydman, Vice President and Group Treasurer, tel: [phone]

Olli Kivi, Manager, Corporate Finance, Group Treasury, tel. [phone]

 

 

Neste in brief