Aspo holders tender most of 6¾% perpetual capital securities

By Rebecca Melvin

New York, April 22 – Aspo plc said it received tenders for €18.4 million of its 6¾% capital securities issued on May 27, 2016 (ISIN: FI4000210240), or about 75% of the issue by the expiration deadline on April 21, according to a news release.

Aspo began the voluntary cash tender offer for its outstanding €25 million 6¾% capital securities on April 9. It is offering to purchase any and all of the 2016 capital securities at €100,000 per €100,000 note plus accrued interest.

The tender is subject to pricing of new capital securities.

As previously reported, Aspo is considering issuing a hybrid bond of at least €15 million to finance the partial repurchase of the outstanding 2016 capital securities and for general purposes.

Due to the exceptional market circumstances arising from the Covid-19 pandemic, the tender offer and the new issue are expected to be executed during the company’s silent period.

The final results of the tender will be announced as soon as possible but no later than April 27, with settlement expected no later than May 4.

A holder that wishes to subscribe for new securities in addition to tendering their 2016 securities may receive priority in the allocation of the new securities.

OP Corporate Bank plc (liabilitymanagement@op.fi / tel. +358 10 252 1668) is dealer manager and tender agent.

Aspo is a Helsinki, Finland-based conglomerate that owns and develops business-to-business corporate brands.

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