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Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Tjänster |
| Industri | Allmänna tjänster |
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW
Coor contemplates issuance of new senior unsecured bonds, announces a conditional tender offer for its outstanding 2019/2024 bonds and gives conditional notice of early redemption.
Coor Service Management Holding AB ("Coor") has mandated DNB Markets, a part of DNB Bank ASA, Sweden Branch and Skandinaviska Enskilda Banken AB (publ) as joint bookrunners to arrange a series of fixed income investor meetings starting on 12 February 2024 to explore the possibility of issuing new senior unsecured bonds in an expected amount of in aggregate SEK1,000 million and with a tenor of three and five years, respectively. (the"New Bonds"). A capital market transaction may follow, subject to prevailing market conditions.
The proceeds from the contemplated bond issue will be used to refinance Coor's outstanding senior unsecured 2019/2024 bonds, with ISIN SE0012377299 (the"Existing Bonds") with an outstanding volume of SEK 1,000 million and to finance general corporate purposes. Coor will, in connection with the allocation of the New Bonds, consider, among other factors, whether or not the relevant investor seeking an allocation of the New Bonds has participated in the Tender Offer (as defined below), subject to the terms set out in the Tender Information Document (as defined below).
In conjunction with the contemplated issue of the New Bonds, Coor has today announced a conditional offer to the holders of the Existing Bonds, to tender their Existing Bonds for purchase by Coor for cash at a price of 100.00 per cent of the nominal amount plus accrued and unpaid interest (the"Tender Offer"). The Tender Offer is subject to the terms described in the tender information document dated 8 February 2024 (the"Tender Information Document"). The Tender Information Document is available on Coor's website via the following link Coor Considers New Senior Unsecured Bonds, Announces Tender Offer, and Signals Early Redemption (https://www.coor.com/investors2/Tender-Offer/)
The Tender Offer expires at 12:00 CET on 14 February 2024, unless extended, re-opened, withdrawn or terminated at the sole discretion of Coor. Settlement of the Tender Offer is expected to occur on or around 21 February 2024. The Tender Offer is in its entirety conditional upon, among other things, a successful issue of the New Bonds and the amount that Coor intends to use for repurchases under the Tender Offer will not exceed the proceeds from the New Bonds.
Subject to a successful issuance of the New Bonds, Coor further announces that it exercises its right to make a voluntary early redemption of the outstanding Existing Bonds which are not repurchased through the Tender Offer (the"Early Redemption"). The Early Redemption is conditional upon Coor receiving the proceeds from the issue of the New Bonds. In the event of such early redemption, the Existing Bonds will repurchased at a call option price of 100.00 per cent. of the nominal amount plus accrued and unpaid interest. The redemption amount will be paid to each person who is registered as owner of Bonds as of the record date, being 27 February 2024, in the debt register maintained by Euroclear Sweden. In connection with the Early Redemption, the Bonds will be delisted from the corporate bond list of Nasdaq Stockholm. A notice of the Early Redemption will be sent to directly registered owners of the Bonds in the debt register as of 7 February 2024.
DNB Markets, a part of DNB Bank ASA, Sweden Branch and Skandinaviska Enskilda Banken AB (publ) act as joint bookrunners in respect of the issuance of the New Bonds and as dealer managers for the Tender Offer. Mannheimer Swartling act as legal advisor.
Please find more information at www.coor.com or contact:
Andreas Engdahl, CFO and IR Director, Coor
+46 10559 54 63
Andreas.engdahl@coor.com
Magdalena Öhrn, Communications Director, Coor
+46 10 559 55 19
magdalena.ohrn@coor.com
About Coor:
As the leading provider of facility management services, Coor aims to create the happiest, healthiest, and most prosperous workplace environments in the Nordic region. Coor offers specialist expertise in workplace services, property services and strategic advisory services. Coor creates value by executing, developing, and streamlining our customers' service activities. This enables our customers to do what they do best.
Coor's customer base includes many large and small companies and public-sector organisations across the Nordic region, including ABB, Aibel, Alleima, the Danish Building and Property Agency, DNV, DSB, Equinor, ICA, IKEA, Karolinska University Hospital in Solna, PKA - "Danish Police, Public Prosecution Authority and Prison and Probation Service", PostNord, Saab, SAS, Skanska, Swedbank, Telia Company, Vasakronan and Volvo Cars.
Coor was founded in 1998 and has been listed on Nasdaq Stockholm since 2015. Coor takes responsibility for the operations it conducts, in relation to its customers, employees and shareholders, as well as for its wider impact on society and the environment. Read more at www.coor.com