Metso Outotec offers to buy €300 million 1.125% notes due 2024

By Marisa Wong

Los Angeles, Nov. 23 – Metso Outotec Corp. launched invitations to holders of its €300 million outstanding 1.125% senior notes due June 13, 2024 (Cusip: XS1626574708) to tender any and all of their notes for purchase for cash, according to a notice.

Pricing will be calculated using the interpolated mid-swap rate as the reference benchmark and a fixed purchase spread of 40 basis points.

The tender offer expires at 11 a.m. ET on Nov. 30.

Pricing will be determined at or around 5 a.m. ET on Dec. 1.

Settlement is slated for Dec. 8.

The tender offer is conditioned on the issuance of new notes. The company announced on Wednesday that it plans to issue new euro-denominated fixed-rate notes under its €2 billion euro medium-term note program.

Holders who participate in the tender offer may be given priority in allocation of the new notes.

Citigroup Global Markets Ltd. (+44 20 7986 8969; attn.: liabilitymanagement.europe@citi.com) and Nordea Bank Abp (+45 6136 0379; nordealiabilitymanagement@nordea.com) are dealer managers for the offer.

Kroll Issuer Services Ltd. (+44 20 7704 0880; metso@is.kroll.com; Owen Morris; https://deals.is.kroll.com/metso) is the tender agent.

The industrial machinery company is based in Helsinki, Finland.

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