Sweden’s Vattenfall amends, extends tender offers for two series

Chicago, May 19 – Vattenfall AB announced that it has amended and extended its tender offers for two series of notes, according to a press release.

The offer started as an any-and-all offer. The offer has been amended to state that there will now be a cap, equal to the amount of new capital securities issued by the company.

The offer has also been extended to 11 a.m. ET on May 24. The original expiration time was 11 a.m. ET on May 20.

The company is paying cash for its SEK 3 billion outstanding fixed-rate capital securities with a first call date of March 19, 2022. The company is offering to purchase the notes at 102.16.

The company is also offering to purchase notes from its SEK 3 billion outstanding floating-rate capital securities with a first call date on March 21, 2022. The company is offering to pay 101.52.

Tenders are now subject to proration.

Results will be announced on May 25.

Settlement is planned for May 26.

Dealer managers for the offer are Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com), Skandinaviska Enskilda Banken AB (+46 8 506 231 31, liabilitymanagementdcm@seb.se) and Swedbank AB (+46 8 700 92 22, syndicate@swedbank.se).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, vattenfall@lucid-is.com).

Vattenfall is a state-owned energy company based in Stockholm.

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