Bilia gives results of tender offer for senior floating-rate bonds

By Mary-Katherine Stinson

Lexington, Ky., June 16 – Bilia AB announced the results of the tender offer for its SEK 800 million of 2018/2023 senior floating-rate bonds (ISIN: SE00011751361), according to a press release.

As of the expiration date of 6 a.m. ET on June 16, the company received tender instructions for SEK 768 million total nominal amount of the bonds.

The company has accepted all the tendered bonds for purchase.

As previously reported, the company will purchase the bonds at 100.5 plus accrued interest, leaving SEK 32 million outstanding after settlement.

Settlement is expected to occur on June 26.

Repurchased bonds will not be canceled but will be held by Bilia.

The tender offer was subject to a new financing condition, which has been satisfied, with Bilia’s issuance of new five-year senior bonds totaling SEK 800 million at Stibor plus 275 basis points.

Holders who participated in the tender offer may be given priority in allocation of the new bonds.

The issuer has mandated DNB Markets, a part of DNB Bank ASA, Sweden Branch (+47 23 26 80 99, bond.syndicate@dnb.no) and Nordea Bank Abp (+45 6161 2996, NordeaLiabilityManagement@nordea.com) as joint arrangers and bookrunners for the new bonds and as dealer managers for the tender offer.

More information may be obtained from the issuer (Kristina Franzen, CFO, +46 10 497 73 40, kristina.franzen@bilia.se).

Bilia is a car sales chain based in Gothenburg, Sweden.

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