Investor AB begins tender for €600 million of 4.875% notes due 2021

By Susanna Moon

Chicago, Sept. 4 – Investor AB said it is holding a tender offer for its €600 million 4.875% notes due 2021 until 11 a.m. on Sept. 10.

Pricing will be set using a purchase yield of negative 0.05% for a purchase price of 115.696% assuming a settlement date of Sept. 12.

The issuer is tendering for the notes “to proactively manage upcoming debt repayments and to extend the average debt maturity profile of the offeror,” according to an announcement.

Along with the offer, the company plans to price new euro-denominated fixed-rate notes under its €5 billion debt issuance program with some of the proceeds to be used to purchase the 4.875% notes, which will be canceled.

The tender offer is contingent on issue of the new notes.

The company will also pay accrued interest.

Tender instructions must be submitted for a minimum nominal amount of €50,000 and in integrals of €1,000 after that.

Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) and Skandinaviska Enskilda Banken AB (publ) (+46 8 506 232 09/+46 8 506 23 189 or liabilitymanagement@seb.se) are the dealer managers. Citibank, NA, London Branch (+44 20 7508 3867 or citiexchanges@citi.com) is the tender agent.

The issuer is a Stockholm-based investment company.

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