Velcora to redeem floating-rate bonds due 2021 at 104 on Sept. 3

By Angela McDaniels

Tacoma, Wash., Aug. 8 – Velcora Holding AB will redeem its SEK 525 million senior secured callable floating-rate bonds due 2021 in full on Sept. 3, according to a company news release.

The redemption price will be 104% of par plus accrued interest up to and including the early redemption date.

In connection with the redemption, Velcora intends to apply for delisting of the bonds from Nasdaq Stockholm.

As reported on July 18, a change-of-control event occurred when Idex Corp. completed its acquisition of Velcora. As a result, the bonds are putable until Sept. 9.

Holders who put back their bonds will receive 101% of par plus accrued interest up to and including the repurchase date, Oct. 2.

Repurchase instructions may be revoked prior to Sept. 9.

Velcora is a Tumba, Sweden-based engineering group comprising the two businesses Roplan and Steridose. Idex is a Lake Forest, Ill.-based applied solutions company specializing in fluid and metering technologies; health and science technologies; and fire, safety and other diversified products.

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