Orexo gives tender results for callable floaters due 2025

Chicago, March 13 – Orexo AB announced the results of its offer to holders of its 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.

Noteholders tendered SEK 178.75 million of the bonds, including SEK 48.75 million held by the company.

All tendered bonds have been accepted for purchase.

The company was offering a purchase price of 100.75 plus accrued interest.

The tender offer expired at noon ET on March 13.

Settlement is expected around March 28.

The offer is conditional upon the receipt of proceeds from a new offering of bonds. The bonds have priced, but the offer needs to settle.

Also conditional upon settlement of the new bonds, the company intends to early redeem any bonds not repurchased in the tender offer.

The company plans to redeem the bonds at 100.75 plus interest, on April 11.

A conditional notice of redemption was sent to registered owners on Wednesday.

ABG Sundal Collier and Carnegie Investment Bank were joint arrangers and bookrunners for the new bonds and the tender offer.

Orexo is a pharmaceutical company based in Uppsala, Sweden.

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