Investor AB gets tenders for €230.19 million of 4.875% notes due 2021

By Susanna Moon

Chicago, Sept. 11 – Investor AB said holders had tendered €230,188,000 of its €600 million 4.875% notes due 2021 in the offer that ended at 11 a.m. on Sept. 10.

Investor AB will accept for purchase all of the tendered notes if it meets the financing condition by the settlement date of Sept. 12, according to a company update on Tuesday.

As announced Sept. 4, 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.

After settlement, there will be €369,812,000 of the notes left outstanding.

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

Along with the offer, the company also planned 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 issuance of the new notes.

The company will also pay accrued interest.

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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