Lassila & Tikanoja tenders for €30 million 2.125% notes due 2019

By Wendy Van Sickle

Columbus, Ohio, Aug. 31 – Lassila & Tikanoja plc tendered for any and all of its €30 million of 2.125% notes due Sept. 15, 2019, according to a news release.

Pricing will be set using a purchase yield of negative 0.1%. The issuer will also pay accrued interest.

The tender offer will end at 11 a.m. ET on Sept. 11.

Settlement is expected to take place on Sept. 17.

The tender offer is conditioned on completion of the issuance of new euro-denominated fixed-rate notes. The company expects to issue about €50 million of new notes.

The reason for the tender offer is to proactively manage upcoming debt redemption payments and to extend the average debt maturity profile of the company, according to the news release.

Danske Bank A/S (+358 10 513 8794 or liabilitymanagement@danskebank.dk) is the dealer manager.

Danske Bank A/S, Finland Branch is the tender agent.

Lassila & Tikanoja is a Helsinki, Finland-based service company that keeps materials, properties and factories in productive use for as long as possible and enhances the use of raw materials and energy.

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