Klovern accepts SEK 1.19 billion tenders of floaters due 2021

By Taylor Fox

New York, Feb. 3 – Klovern AB accepted SEK 1,185,000,000 tenders under its offer to purchase its outstanding SEK 1.5 billion senior floating-rate bonds due Feb. 26, 2021 (ISIN: SE0010831198) for cash at a price of 100.2, plus interest, according to a news release.

The tender offer expired at 6 a.m. ET on Feb. 3.

Settlement is expected on Feb. 10.

The repurchase of bonds was conditioned on an issuance of new green SEK-denominated senior bonds.

Danske Bank (+45 3051 5941; dcm_sweden@danskebank.se), Nordea (+45 6161 2996 or NordeaLiabilityManagement@nordea.com), Nykreit Bank (+45 4049 8228 or liabilitymanagement@nykredit.dk) and Swedbank (+46 08 700 9022 or Syndicate@swedbank.se) are dealer managers and joint bookrunners for the new bonds and the tender offer.

Klovern is a real estate company based in Stockholm.

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