Huhtamaki begins tender offer for up to €50 million of 1 5/8% notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., Nov. 13 – Huhtamaki Oyj launched a tender offer for up to €50 million of its €150 million 1 5/8% notes due Oct. 4, 2024 (ISIN: FI4000282801), according to a press release.

The company will purchase the notes at €979.50 per €1,000 in nominal amount of the notes plus accrued interest.

Tenders are subject to proration.

The offer expires at 9 a.m. ET on Nov. 21.

The final results and completion date will be announced as soon as feasible, no later than Nov. 22. The settlement date is expected to be Nov. 24 but no later than Dec. 6.

Nordea Bank Abp (+45 6136 0379, Nordealiabilitymanagement@nordea.com) and Skandinaviska Enskilda Banken AB (publ) (+44 7 818 426 149, liabilitymanagementdcm@seb.se) are the dealer managers and Nordea Bank will also act as the tender agent for the tender offer.

Huhtamaki stated it has the sole discretion to decide on the acceptance of the notes, including not to accept any notes for purchase.

The notes were originally issued on Oct. 4, 2017.

At the same time, the company announced it intends to issue new senior notes. The tender offer is subject, without limitation, to the completion of the new notes issue.

Noteholders wishing to subscribe to the new notes must make a separate application to any of the joint lead managers for the new note issue. BNP Paribas, Nordea Bank and SEB are joint lead managers for the new issue.

Huhtamaki is a consumer packaging company based in Espoo, Finland.

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