Elisa issues a EUR 300 million seven-year Eurobond and announces a tender offer for its Eurobond maturing 2021
ELISA STOCK EXHANGE RELEASE 13 FEBRUARY 2019 AT 11:50 AM
NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, AUSTRALIA, CANADA, HONGKONG, JAPAN, NEW ZEALAND, SOUTH AFRICA OR SINGAPORE OR IN ANY OTHER JURISDICTION WHERE SUCH RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.
Elisa is issuing a seven-year Eurobond under its EUR 1.5 billion EMTN (Euro Medium Term Note) programme. The size of the new seven-year bond issue is expected to be EUR 300 million. The Mandated Lead Managers for the bond issue are Danske Bank A/S, NatWest Markets, Nordea Bank Abp and OP Corporate Bank plc.
NatWest Markets (the “Offeror”), under agreement with Elisa, has today invited holders of Elisa’s existing notes maturing in 2021 to offer to sell their notes for cash. The Offeror currently proposes to accept for purchase up to EUR 100 million in aggregate nominal amount. Although the Offeror reserves the right, in its sole discretion, to accept significantly less than or significantly more than such amount.
Whether the Offeror will accept for purchase any notes validly tendered is subject to, without limitation, the issue of the new Elisa seven-year bond. The tender offer expires on 20 February 2019 at 4.00pm London time and is being made on the terms and subject to the conditions set out in the Tender Offer Memorandum dated 13 February 2019. The dealer managers for the tender offer are NatWest Markets and Nordea Bank Abp.
The Offeror will pay for Notes accepted by it for purchase pursuant to the Offer a price (the Purchase Price) to be determined at or around 1.00pm. (London time) (the Pricing Time) on 21 February 2019 (the Pricing Date) in the manner described in the Tender Offer Memorandum by reference to the sum (such sum, the Purchase Yield) of a purchase spread of 25 basis points (the Purchase Spread) and the Interpolated Mid-Swap Rate.
The proceeds from the issue of the new seven-year bond will be used for general corporate purposes, including financing tender offer of the bond maturing in 2021.
ELISA CORPORATION
Vesa Sahivirta
IR Director
tel. +358 50 520 5555
Further information:
Mr Jari Kinnunen, CFO
tel. 1
Mr Juha Kervinen, Group Treasurer
tel. 5
Distribution:
Nasdaq Helsinki
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