Sagax accepts €205.59 million of tendered 2% notes due 2024

By Marisa Wong

Los Angeles, Jan. 18 – AB Sagax announced the results of its Jan. 11 tender offer for its €500 million outstanding 2% notes due Jan. 17, 2024 (ISIN: XS1877540465). The offer expired at 11 a.m. ET on Jan. 17.

Sagax will accept for purchase €205,586,000 of notes tendered under the offer, using a scaling factor of 76.3065%, for a total purchase consideration of €199,999,975.08, according to an announcement on Wednesday.

As previously reported, the offer is capped at €200 million as a total purchase consideration.

The purchase price is 97.25. Interest will also be paid to the settlement date.

The offer is expected to settle on Jan. 23.

Sagax said before that it is conducting the tender offer to proactively manage its debt profile.

Deutsche Bank AG (+44 20 7545 8011) and Nordea Bank Abp (+45 6136 0379, NordeaLiabilityManagement@nordea.com) are the dealer managers.

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, sagax@is.kroll.com, https://deals.is.kroll.com/sagax).

Sagax is a property company based in Stockholm.

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