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Finland’s Huhtamaki tenders for €150 million of 3.375% notes via OP
By Susanna Moon
Chicago, Sept. 18 – Huhtamaki Oyj is tendering for up to €150 million of its €200 million 3.375% notes due May 14, 2020 via an offer by OP Corporate Bank plc.
The tender offer will end at 10 a.m. ET on Sept. 26.
The purchase price will be €1,086.70 for each €1,000 principal amount of notes plus accrued interest.
Huhtamaki also is considering an issue of new euro-denominated fixed-rate notes, according to an announcement.
The tender offer is contingent on pricing of the new issue.
Settlement will occur by Oct. 12, if the new issue closes.
Holders who subscribe for new notes in addition to tendering in the offer may receive priority in the allocation of the new issue, the company noted.
If an allocation of new notes is sought, tender instructions must be for at least €100,000 principal amount in order to comply with the minimum subscription amount.
The joint lead managers are Nordea Bank AB (publ) and OP Corporate Bank. OP Corporate Bank (liabilitymanagement@op.fi or +358 10 252 1668) is also dealer manager and tender agent.
Huhtamaki is a packaging specialist for food and drink based in Espoo, Finland.
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