Neste runs capped tender offer for 1.5% notes due 2024

Chicago, March 8 – Neste Corp. started a capped tender offer for up to €200 million nominal amount of its €400 million outstanding 1.5% notes due 2024 (ISIN: FI4000261201), according to a press release.

The offer started Monday.

The purchase price will be based on the interpolated mid-swap rate minus 10 basis points.

Tenders may be subject to proration.

The tender offer is conditioned on the successful completion and issue of new notes.

The company may preferentially allocate the new notes to tendering noteholders.

The offer expires at 9 a.m. ET on March 13.

Pricing will take place at 5 a.m. ET on March 14.

Results will be announced on March 14.

Settlement is expected for March 16, but will be no later than March 23.

Nordea Bank Abp is the dealer manager and tender agent for the offer (NordeaLiabilityManagement@nordea.com).

Neste is an Espoo, Finland-based producer of renewable diesel and supplier of renewable feedstocks to the aviation and plastics industries.

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