Information regarding Change of Control Event in respect of Hemfosa's unsecured bonds

As announced by Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") on December 23, 2019, SBB has completed its public takeover offer to the shareholders in Hemfosa by declaring the offer unconditional. SBB consequently holds shares corresponding to approximately 88.1 percent of the total number of votes in Hemfosa.

As a result thereof, Hemfosa has determined that a Change of Control Event has occurred under the terms and conditions dated February 23, 2017 for Hemfosa's up to SEK 1,000,000,000 senior unsecured bonds due in September 2020 ("Bond 2017"), the terms and conditions dated May 10, 2019 for Hemfosa's up to SEK 1,500,000,000 senior unsecured green bonds due in May 2022 ("Bond 2019:1") and the terms and conditions dated September 26, 2019 for Hemfosa's up to SEK 1,000,000,000 senior unsecured green bonds due in October 2022 ("Bond 2019:2") (together the "Bonds"). 

Due to the occurrence of the Change of Control Event, holders of the Bonds (the "Bondholders") have a right to request that their Bonds are repurchased at a price per Bond equal to 101 percent of the nominal amount together with accrued but unpaid interest. If a Bondholder wishes to exercise its right to request that its Bonds shall be repurchased, such Bondholder shall within twenty (20) business days from the date of the notice to the Bondholders of the Change of Control (i.e. no later than February 3, 2020) notify Hemfosa in accordance with the instruction set out in such notice. Hemfosa will repurchase the relevant Bonds and pay the repurchase amount no later than March 30, 2020.

Information regarding consent from lenders

As of September 30, 2019, Hemfosa had bank loans in a total amount of MSEK 19,553 from Swedish and Nordic banks. Hemfosa has obtained approvals from these banks, which involves that, within a period of up to 180 days, the change of control clauses in the credit agreements will not be enforced. This gives Hemfosa flexibility and the opportunity to evaluate the company's financing based on SBB's completed takeover offer and other relevant circumstances.

For further information, please contact: 

Linda Eriksson, Head of Finance, linda.eriksson@hemfosa.se,mobile +46 72 166 24 28, telephone +46 8 448 04 80