Orexo launches conditional tender offer for floaters due 2025

By Marisa Wong

Los Angeles, March 8 – Orexo AB is inviting holders of its existing senior unsecured callable floating-rate bonds due February 2025 (ISIN: SE0015193958) to tender any or all of their existing bonds for purchase for cash, according to a press release.

Orexo is offering to purchase the notes at 100.75 plus accrued interest.

The tender offer is conditioned on an issuance of new social bonds.

The tender offer expires at the later of 11 a.m. ET on March 14 and the pricing date of the new bonds.

Settlement is expected to occur about 10 business days after the expiration date.

The company said it will, in connection with the allocation of the new bonds, consider whether the investor seeking to subscribe for the new bonds has tendered their existing bonds under the tender offer.

The company intends to redeem any existing bonds that are not tendered in the tender offer at 100.75 plus accrued interest. The redemption is also conditioned on the successful issue of the new bonds.

Gernandt & Danielsson Advokatbyra KB has been appointed as legal counsel in connection with the tender offer.

Orexo is a pharmaceutical company based in Uppsala, Sweden.

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