Telia accepts €310.41 million of tendered 2021, 2022, 2024 notes

By Marisa Wong

Los Angeles, Dec. 2 – Telia Co. AB announced the results of its tender offers for its outstanding €850 million 4¾% notes due Nov. 16, 2021 (ISIN: XS0465576030), €680 million 4% notes due March 22, 2022 (ISIN: XS068090482) and €750 million 3 5/8% notes due Feb. 14, 2024 (ISIN: XS074601090).

As of 11 a.m. ET on Nov. 27, the expiration time, holders had tendered €80,858,000 of the 2021 notes, €76,372,000 of the 2022 notes and €153,181,000 of the 2024 notes.

Telia decided to increase the maximum acceptance amount in order to accept all of the tendered notes for purchase. The final acceptance amount was set at €310,411,000, increased from the €300 million cap announced at the start of the offer on Nov. 20.

The 2021 notes were purchased at 105.009, the 2022 notes at 105.766 and the 2024 notes at 112.835. The issuer also paid accrued interest on the tendered and accepted notes. Settlement occurred on Dec. 1.

Credit Agricole CIB (+44 20 7214 5903, attn.: liability management, liability.management@ca-cib.com) and Nordea Bank Abp c/o Nordea Danmark (+45 6161 2996; attn.: Nordea liability management, nordealiabilitymanagement@nordea.com) acted as dealer managers for the offer.

Lucid Issuer Services Ltd. (+44 20 7704 0880, attn.: Thomas Choquet, telia@lucid-is.com) acted as tender agent.

Formerly TeliaSonera AB, Telia is a telecommunications company based in Solna, Sweden.

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