Molnlycke to accept €252.11 million of 1.75% notes in tender offer

By Mary-Katherine Stinson

Lexington, Ky., Sept. 7 – Molnlycke Holding AB (publ) received valid tenders of €252,114,000 in its tender offer for its €500 million outstanding 1.75% notes due Feb. 28, 2024 (ISIN: XS1317732771), according to a company notice.

The company will purchase the notes at 98.9, plus accrued interest of 0.93493%.

The offer expired at 11 a.m. ET on Sept. 6.

Settlement is slated for Sept. 11, subject to a new financing condition.

Following settlement, €247,886,000 in aggregate nominal amount of the notes will remain outstanding.

As previously reported, the company announced that it plans to issue a new series of euro-denominated fixed-rate notes under its €3 billion euro medium-term note program. Proceeds from the new notes will be used to finance the tender offer.

Holders participating in the tender offer may be given priority in allocation of the new notes.

The purpose of the tender offer was for the company to optimize its debt maturity profile. Purchased notes will be canceled.

The joint dealer managers for the offer are BNP Paribas (+33 1 55 77 78 94; liability.management@bnpparibas.com) and Skandinaviska Enskilda Banken AB (publ) (+44 7 818 426 149; liabilitymanagementdcm@seb.se).

The tender agent is Kroll Issuer Services Ltd. (+44 20 7704 0880; molnlycke@is.kroll.com; attn.: Owen Morris; https://deals.is.kroll.com/molnlycke).

The holding company for medical device companies is based in Gothenburg, Sweden.

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