Atlas Copco kicks off any-and-all tender offer for 2.5% notes due 2023

Chicago, Jan. 28 – Atlas Copco AB commenced a tender offer for any and all of its €500 million outstanding 2.5% notes due Feb. 28, 2023 (ISIN: XS0896144655), according to a notice.

The purchase price will be calculated using a purchase yield of negative 45 basis points. Assuming the expected settlement date of Feb. 8, the purchase price would be 103.126. If the settlement date is moved, the purchase price will be recalculated. The purchase price will also include an accrued interest payment.

The tender offer is conditioned on new financing. Atlas will be selling new euro-denominated fixed-rate notes to fund the tender offer.

If existing noteholders wish to subscribe to the new notes, they should indicate a firm intention to any dealer manager that they intend to tender their notes. Priority allocation may be given to tendering noteholders.

The offer is part of the company’s management of its liabilities to proactively manage its refinancing requirements.

The expiration deadline of the tender offer is 11 a.m. ET on Feb. 3.

Results will be announced on Feb. 4.

Dealer managers for the offer are BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com) and Skandinaviska Enskilda Banken AB (publ) (+46 8 506 231 31, liabilitymanagementdcm@seb.se).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, atlascopco@lucid-is.com, https://deals.lucid-is.com/atlascopco).

Atlas Copco makes compressors, construction and mining tools and equipment, power tools and assembly systems. The company is based in Stockholm.

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