Index offers to redeem or exchange SEK 275 million 9% bonds due 2016

By Toni Weeks

San Luis Obispo, Calif., May 22 - Index International AB (publ) has issued a call to redeem its SEK 275 million of 9% senior bonds due 2016.

The bonds will be redeemed at 106.5 plus accrued interest on June 17. Holders of record as of June 10 may participate.

As an alternative to redemption, holders may elect to instead have their bonds exchanged into a new series of notes. The company said it will issue on May 22 a maximum of SEK 500 million of senior secured floating-rate bonds due 2018. The new bonds carry an interest rate of Stibor plus 700 basis points.

Holders who wish to exchange rather than redeem their notes will receive a premium of 6.5% of their nominal amount of bonds.

Applications to exchange must be received by Swedbank Syndicate by 6 a.m. ET on June 3.

Index is a Stockholm-based international investment group of companies focused on real estate and equity.

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