Finland’s Elisa wraps tender offer for €300 million notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., Sept. 26 – Elisa Corp. announced the results of its cash tender offer to purchase up to €150 million of its €300 million 0.875% notes maturing March 17, 2024 (ISIN: XS1578886258) for cash at 98.57 plus accrued interest, according to an announcement on Monday.

The company has set the final acceptance amount at €51,969,000, which corresponds to the amount tendered by the expiration of the offer. Elisa will accept all the notes tendered with no proration.

Tender instructions were irrevocable.

Repurchased notes will be canceled.

The tender offer expired at 11 a.m. ET on Sept. 25.

Settlement is scheduled for Sept. 27.

The tender offer was conducted to proactively manage the company’s upcoming debt redemptions and to extend the average debt maturity profile. It is further conditioned on the issue of a new green euro-denominated fixed-rate series under Elisa’s €1.5 billion euro medium-term note program.

The dealer managers are Nordea Bank Abp (+45 55 46 90 82, attn.: Nordea liability management, NordeaLiabilityManagemenet@nordea.com) and Skandinaviska Enskilda Banken AB (publ) (+44 7818 426 149, attn.: liability management, liabilitymanagementdcm@seb.se). Kroll Issuer Services Ltd. (+44 20 7704 0880, attn.: Thomas Choquet, elisa@is.kroll.com, https://deals.is.kroll.com/elisa) is acting as tender agent.

Elisa is a Helsinki, Finland-based company that provides information and communication technology services in Finland and Estonia.

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