Telia accepts tenders for €599.99 million capital securities due 2078

By Marisa Wong

Los Angeles, Sept. 20 – Telia Co. AB announced the final results of its Sept. 12 cash tender offer for a maximum acceptance amount of its outstanding subordinated fixed-rate reset six-year non-call capital securities due 2078 (ISIN: XS1590787799). At the start of the offer, €699,956,000 of the original €900 million principal amount was outstanding.

As of the expiration of the offer at 11 a.m. ET on Sept. 19, holders had tendered €627,904,000 of the securities, according to a notice on Tuesday.

The issuer has determined that the final acceptance amount will be €599,989,000.

The tendered notes will be accepted with a 94.055% scaling factor applied.

The company will purchase the securities at 100.625 plus accrued interest of €13.97 per €1,000 principal amount.

Settlement is expected to be on Sept. 21.

The tender offer is subject to a financing condition.

Barclays Bank Ireland plc (eu.lm@barclays.com, +44 20 3134 8515) and BNP Paribas (liability.management@bnpparibas.com, +33 1 55 77 78 94) are the dealer managers.

Kroll Issuer Services Ltd. (+44 20 7704 0880, attn.: David Shilson, telia@is.kroll.com, https://deals.is.kroll.com/telia) is the tender agent.

Telia is a Stockholm-based company that provides network access and telecommunication services.

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