Norwegian Finans Holding ASA: Bank Norwegian announces final tender results for certain outstanding NOK and SEK bonds


Norwegian Finans Holding ASA: Bank Norwegian announces final tender results for certain outstanding NOK and SEK bonds

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 AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) (THE "SECURITIES ACT") OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES, THE UNITED KINGDOM, FRANCE AND ITALY) MAY BE RESTRICTED BY LAW.

Bank Norwegian AS (publ) (the “Issuer”), today announces the final results of its invitation dated 5 December 2019 to the holders of its outstanding bonds outlined below (together, the “Bonds”) to tender their Bonds for purchase by the Issuer for cash (the “Tender Offer”).

The Tender Offer was made on the terms and subject to the conditions set out in a tender information document dated 5 December 2019 (the “Tender Information Document”), available on the website of the Issuer.

At the expiration of the Tender Offer at 14:00 CET on 5 December 2019, valid tender instructions of SEK 487,000,000 in aggregate nominal amount of SEK Bonds and NOK 20,000,000 in aggregate nominal amount of NOK Bonds were received pursuant to the Tender Offer. Details of tendered amount per ISIN are set out below.

The Issuer announces that the New Financing Conditions (as defined in the Tender Information Document) have been met and that a total nominal amount of new bonds of (i) SEK 1,000,000,000 with a maturity of three (3) years, (ii) NOK 800,000,000 with a maturity of three (3) years and (iii) NOK 1,200,000,000 with a maturity of four (4) years has been successfully issued under its EUR 1.5 billion EMTN Programme (the “New Bonds”). Accordingly, all valid tender instructions received pursuant to the Tender Offer will be accepted for purchase by the Issuer.

The purchase price payable per Bond is as set out below, in addition to which the Issuer will pay an amount equal to any accrued and unpaid interest on the relevant Bonds (in accordance with the terms and conditions of the Bonds):

Description of the Bonds / ISIN / Outstanding Amount / Accepted Amount / Minimum Denomination / Purchase Price

 

2017/2020 senior unsecured floating rate notes / NO0010790850 / NOK 500,000,000 / NOK 5,000,000 / NOK 1,000,000 / 100.059%

2017/2020 senior unsecured floating rate notes / NO0010810534 / SEK 500,000,000 / SEK 64,000,000 / SEK 1,000,000 / 100.276%

2017/2020 senior unsecured floating rate notes / NO0010811110 / NOK 300,000,000 / NOK 15,000,000 / NOK 1,000,000 / 100.763%

2018/2021 senior unsecured floating rate notes / NO0010837206 / SEK 400,000,000 / SEK 65,000,000 / SEK 1,000,000 / 100.437%

2019/2021 senior unsecured floating rate notes / NO0010848583 / SEK 550,000,000 / SEK 358,000,000 / SEK 1,000,000 / 100.730%

 

Settlement of the Tender Offer will occur on 12 December 2019. Settlement of the transactions pursuant to the Tender Offer will occur as a secondary trade via DNB Bank ASA and Nordea Bank Abp. All tendering Bondholders should coordinate the trade bookings with their local sales representative immediately.

Information about the Tender Offer may be obtained from the Dealer Managers.

 

CONTACT INFORMATION

 

Joint Bookrunners and Dealer Managers

DNB Bank ASA

E-mail: bond.syndicate@dnb.no

Nordea Bank Abp

Email: nordealiabilitymanagement@nordea.com

 

The Issuer

Bank Norwegian AS

Mats Benserud

mbe@banknorwegian.no


This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act