Sweden’s Stendorren holders may put floaters after control change

By Susanna Moon

Chicago, Dec. 17 – Stendorren Fastigheter AB said that holders may exercise the put options under its SEK 1 billion of senior floating-rate notes due 2020 and its SEK 1 billion of senior floating-rate notes due 2021.

The notes are putable at 101 plus accrued interest, because a change of control occurred when AB EQT Real Estate II, through Chicago Holding AB, acquired shares of the issuer on Dec. 14, according to two separate notices.

Chicago now holds 7,356,773 of the issuer’s shares, or 26.13% of the total number of shares and 50.06% of the total number of voting rights, the release noted.

Also, Chicago has made a cash offer to the shareholders to tender all their shares to Chicago and may acquire additional shares in the issuer as a result.

Noteholders may put their notes until Feb. 6.

Stendorren is a real estate company based in Stockholm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.