Sampo launches cash tender offer for 6.339% notes due 2012

By Marisa Wong

Madison, Wis., Feb. 13 - Sampo plc said it began a cash tender offer for any and all of its €750 million 6.339% notes due 2012 on Monday.

There is currently €605,152,000 principal amount of the notes outstanding.

Holders must tender a minimum of €50,000 principal amount of notes.

Sampo will pay a purchase price of €1,006.82 for each €1,000 of notes accepted for purchase. Holders will also receive accrued interest.

The purpose of the tender offer is to proactively manage the company's upcoming debt redemptions and to lengthen its debt maturity profile.

The tender offer is subject to a financing condition.

The offer will expire at 11 a.m. ET on Feb. 20 and is expected to settle on Feb. 23.

Citigroup Global Markets Ltd. (+44 20 7986 8969), Danske Bank A/S (+358 (0)10 546 8013), Deutsche Bank AG, London Branch (+44 20 7545 8011) and Nordea Bank Danmark A/S (+45 33 33 16 75) are the dealer managers for the offer, and Lucid Issuer Services Ltd. (+44 20 7704 0880) is the tender agent.

Sampo is an insurance company based in Helsinki, Finland.

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