Klovern’s Corem announces results of tender offer for green floaters

Chicago, Jan. 13 – Klovern AB’s parent company Corem Property Group AB announced the results of its tender offer for the senior floating-rate green bonds due April 4, 2022 (ISIN: SE0011063163), according to a press release.

The company started the offer on Jan. 10 and it expired at 6 a.m. ET on Jan. 13.

Noteholders tendered SEK 1,897,900,000 of SEK 2.35 billion outstanding bonds, and all tendered bonds will be accepted for purchase.

The offer was subject to a possible cap.

As previously reported, the bonds will be repurchased at 100.2. Accrued interest will also be paid.

Repurchased bonds will be transferred to Klovern and canceled.

Settlement is expected on Jan. 20.

The purpose of the tender offer is to proactively manage the group’s upcoming debt redemption and to lengthen and diversify its debt maturity profile.

The acceptance of the bonds was subject to a new financing condition.

Nordea Bank Abp (+45 6161 2996, NordeaLiabilityManagement@nordea.com) and Swedbank AB (+46 08 700 90 22, Syndicate@swedbank.se) are the dealer managers and joint bookrunners on the deal.

Gernandt & Danielsson Advokatbyra KB and Walthon Advokater AB will act as legal counsels.

Klovern is a real estate company based in Stockholm.

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