Lassila & Tikanoja accepts €27 million 2.125% note tenders at 102.215

By Wendy Van Sickle

Columbus, Ohio, Sept. 12 – Lassila & Tikanoja plc received and accepted tenders of €27 million of its 2.125% notes due Sept. 15, 2019 in its offer for any and all of its €30 million of the notes, according to a news release.

Pricing was set using a purchase yield of negative 0.1% for a price of 102.215. The issuer will also pay accrued interest.

The tender offer was announced on Aug. 31 and ended at 11 a.m. ET on Sept. 11.

Settlement is expected to take place on Sept. 17.

The tender offer was conditioned on completion of the issuance of new euro-denominated fixed-rate notes, and that condition has been met.

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 a previous 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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