Source - RNS
RNS Number : 4328K
Swedish Match AB
21 September 2016
 

Swedish Match AB (publ) Announces Final Results of Tender Offer in respect of its

€350,000,000 3.875 per cent. Notes due 24 November 2017

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 OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT

21 September 2016.  Swedish Match AB (publ) (the Company) announces today the results of its invitation to holders of its €350,000,000 3.875 per cent. Notes due 24 November 2017 (ISIN: XS0562188580) (the Notes) to tender their Notes for purchase by the Company for cash (the Offer).

The Offer was announced on 13 September 2016, and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 13 September 2016 (the Tender Offer Memorandum) prepared by the Company.  Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 20 September 2016.

As at the Expiration Deadline, the Company had received valid tenders of €177,693,000 in aggregate nominal amount of the Notes for purchase. Subject to satisfaction of the New Financing Condition on or prior to the Settlement Date, the Company announces that it has decided to set the Final Acceptance Amount at €100,000,000 in aggregate nominal amount of Notes and, accordingly, that it will accept for purchase Notes validly tendered pursuant to the Offer subject to pro rata scaling at a scaling factor of 56.395 per cent., as further described in the Tender Offer Memorandum.

A summary of the final pricing of the Offer appears below:

Purchase Yield

Purchase Price

Accrued Interest

-0.10 per cent.

104.654 per cent.

3.219 per cent.

Subject to satisfaction of the New Financing Condition, the Settlement Date in respect of those Notes accepted for purchase is expected to be 23 September 2016.  Following settlement of the Offer, €213,900,000 in aggregate nominal amount of the Notes will remain outstanding.

Deutsche Bank AG, London Branch and Skandinaviska Enskilda Banken AB (publ) are acting as Dealer Managers for the Offer and Deutsche Bank AG, London Branch is acting as Tender Agent.

The Dealer Managers

Deutsche Bank AG, London Branch

Winchester House

1 Great Winchester Street

London EC2N 2DB

United Kingdom

 

Telephone: +44 20 7545 8011

Attention: Liability Management Group

Email: [email protected]

Skandinaviska Enskilda Banken AB (publ)

Kungsträdgårdsgatan
SE-106 40 Stockholm

Sweden

Telephone: +46 8 506 232 09

Attention: Liability Management Group

Email: liability[email protected]

The Tender Agent

Deutsche Bank AG, London Branch

Winchester House

1 Great Winchester Street

London EC2N 2DBUnited Kingdom

 

Telephone: +44 20 7547 5000

Attention: Global Securities Services - Corporate Trust

Email: [email protected]

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum.  No offer or invitation to acquire any securities is being made pursuant to this announcement.  The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law.  Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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