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Klovern to redeem remaining SEK 430 million floaters due 2017 Dec. 1
By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – Klovern AB (publ) called the outstanding SEK 430 million of its original SEK 1.15 billion floating-rate bonds due Jan. 19, 2017, according to a press release.
The bonds will be redeemed at par plus accrued interest to but excluding the redemption date of Dec. 1.
The bonds were issued under an Oct. 19, 2012 bond loan.
As previously reported, investors tendered SEK 720 million of the bonds in an offer that ended at 11 a.m. ET on Oct. 25.
The tender offer was contingent on closing of a new issue, and the company sold SEK 1.5 billion of four-year senior bonds at Stibor plus 390 basis points, according to a company update.
The purchase price under the tender offer was 100.25 plus accrued interest.
Klovern is a real estate company based in Nykoping, Sweden.
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