Stena announces tenders of $264.47 million for 5¾% notes

Chicago, Feb. 21 – Stena International SA announced the tender offer results from its cash offer to purchase any and all of its $350 million outstanding 5¾% senior secured notes due 2024 (Cusip: 85858EAA1, L62788AA9) guaranteed by Stena AB and some of its subsidiaries and secured by some assets of the company’s subsidiaries.

The tender offer expired at 5 p.m. ET on Feb. 6.

As of the expiration time, $264,466,000 of the notes were tendered. The company accepted all of the tendered notes for purchase.

As previously reported, the purchase consideration is $1,012.50 per $1,000 principal amount, plus accrued interest to but excluding the settlement date of the tender offer.

Settlement was scheduled for Feb. 9.

Notes tendered via guaranteed delivery were due by Feb. 8.

The remaining notes that were not tendered were called for redemption. They will be redeemed on March 3. The redemption price was announced as 101.

J.P. Morgan Securities LLC (866 834-4666 or 212 834-3554) was the dealer manager for the tender offer, and D.F. King & Co., Inc. (212 269-5550 for banks and brokers or 800 967-4617 for all others; stena@dfking.com; http://www.dfking.com/stena) is tender agent and information agent.

Stena International is a Luxembourg-based holding company and a direct subsidiary of Swedish conglomerate Stena AB, which has operations in shipping, ferry lines, offshore, real estate and finance.

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