Atlas Copco wraps tenders for $294.4 million of 5.6% notes due 2017

By Susanna Moon

Chicago, April 6 – Atlas Copco AB said holders had tendered $294,361,000, or 36.8%, of its $800 million outstanding 5.6% notes due 2017 in the offer that ended at 11:59 p.m. ET on April 5.

The tally remains unchanged as of 5 p.m. ET on March 21, the early tender date.

The company was tendering for up to $400 million principal amount of the notes.

The total purchase price was set at $1,052.62 for each $1,000 principal amount of notes tendered by the early tender deadline, according to a company press release dated March 22.

The total purchase price includes an early tender premium of $30 per $1,000 principal amount of notes tendered by the early tender deadline.

Those who tendered after the early deadline would have received the total amount less the early premium, or $1,022.62 per $1,000 par amount.

Pricing was set at 11 a.m. ET on March 22 using the bid-side price of the 0.875% U.S. Treasury note due May 15, 2017 plus 15 basis points.

The reference yield was 0.727%.

The company also will pay accrued interest up to but excluding the settlement date of April 8.

Citigroup Global Markets Ltd. (800 558-3745, 212 723-6106 or +44-20-7986-8969) is the dealer manager. The tender agent and information agent is D.F. King Ltd. (sites.dfkingltd.com/AtlasCopco, +44-20-7920-9700, 212 269-5550, 800 581-3783, +852-3953-7230 or AtlasCopco@dfkingltd.com).

Atlas Copco makes compressors, construction and mining tools and equipment, power tools and assembly systems. The company is based in Stockholm.

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