Metso tenders for €400 million of 2.75% notes due 2019 via Nordea Bank

By Susanna Moon

Chicago, May 30 – Nordea Bank AB (publ) began a tender offer for the €400 million of 2.75% notes due Oct. 4, 2019 issued by Metso Corp.

Pricing will be set using a fixed purchase yield of negative 0.15%.

The tender offer will remain open until 11 a.m. ET on June 7.

Holders also will receive accrued interest.

The offer is being held “to extend the company's debt maturity profile in an efficient manner,” according to a company announcement.

Metso said it also plans to price new euro-denominated notes under its €1.5 billion of euro medium-term notes program.

Citigroup Global Markets Ltd. and Nordea Bank AB (publ) are the lead dealer managers. Danske Bank A/S and OP Corporate Bank are the co-dealer managers. Citibank NA, London Branch (+44 20 7508 3867 or exchange.gats@citi.com) is the tender agent.

The issuer is a Helsinki, Finland-based supplier of process industry machinery.

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