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SSCP Lager BidCo wraps conditional tender offer for notes due 2024
By Mary-Katherine Stinson
Lexington, Ky., Nov. 21 – SSCP Lager BidCo AB (publ) (Logent) wrapped a conditional any-and-all tender offer for its SEK 900 million senior secured floating-rate notes due 2024 (ISIN: SE0013358686), according to a press release.
The company announced holders of outstanding notes representing a total nominal amount of SEK 475.2 million tendered their notes. All of the tendered notes have been accepted for purchase at 100.734 plus unpaid interest.
At the launch of the offer the company noted that it held SEK 90 million of the notes.
The tender offer was linked to the sale of new senior secured floating-rate notes with a three-year tenor.
The tender offer expired at book close of the bookbuilding process for the new notes.
Settlement is expected on or around Dec. 5, 10 business days following the closing of books on the new offer.
Tendering noteholders may receive priority allocation in the new notes offering.
Additionally, the company announced that it will exercise its early redemption right for the remaining notes. Any notes not tendered in the tender offer will be repurchased at the same 100.734 price on Dec. 8. Following the redemption, the notes will be delisted.
Nordea Bank Abp and Pareto Securities AS are working as dealer managers for the tender offer and as arrangers and joint bookrunners for the new issue. Hannes Snellman Attorneys Ltd acts as legal advisor to the company and Gernandt & Danielsson Advokatbyra KB acts as legal advisor to the joint bookrunners and dealer managers.
The company will use the proceeds from the new notes to repurchase the notes tendered in the offer.
The tender information document and the notice of early redemption are available on SSCP Lager’s website at https://logent.se/investor-relations/.
SSCP Lager is a parent company of the Logent group and a logistics company based in Stockholm.
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