The Tender Offer comprises three series of SEK-denominated senior debt securities and ten series of EUR-denominated senior debt securities, issued by Heimstaden Bostad AB or Heimstaden Bostad Treasury B.V., as applicable, all listed in the Tender Offer Memorandum, as defined below.
The purpose of the Tender Offer is, amongst other things, to proactively improve the company’s liability composition and debt maturity profile.
The Tender Offer will be priced via an unmodified Dutch auction procedure in relation to the Auction Securities and via the relevant Fixed Purchase Price in relation to the Fixed Price Securities (each as identified in the Tender Offer Memorandum). Expiration of the Tender Offer will be at 17.00 CET on 3 March 2023 and settlement is expected to be on 14 March 2023.
Further details of the Tender Offer, including eligibility to participate, the different pricing mechanisms and the timeline is available via a tender offer memorandum produced in respect of the Tender Offer (the “Tender Offer Memorandum”) and available via the Tender Agent and the Dealer Managers and at: https://direct.euronext.com/#/rispublication.
Heimstaden Bostad AB has retained BNP Paribas, Citibank, Danske Bank, Deutsche Bank, JP Morgan and Swedbank as Dealer Managers and Kroll Issuer Services as Tender Agent.
Financing – equity commitments and allocation of existing liquidity
The Tender Offer is partially backed by firm equity capital commitments from several shareholders, up to a maximum amount of SEK 4.5 billion, which are subject to the outcome of the Tender Offer. Following the resolution of the annual general meeting on 6 March 2023, Heimstaden Bostad AB will carry out a share issue raising said maximum amount of equity. The share issue is subject to completion of the Tender Offer.
In addition to the equity commitment and share issue, Heimstaden Bostad AB will allocate an amount of approximately SEK 4 billion of existing liquidity towards the Tender Offer.