Ovako sets call for notes due 2022 at June 15, contingent on buyout

By Susanna Moon

Chicago, May 29 – Ovako AB set the redemption date at June 15 for its €310 million of senior secured notes due 2022 with a record date will be June 8.

The conditional call is being made in connection with the planned acquisition of the company by Nippon Steel & Sumitomo Metal Corp., which has been set for June 1, according to the company’s second notice of conditional redemption.

As announced May 16, holders will receive 102% of par plus accrued interest.

The call is contingent on Nippon Steel’s receipt of the competition clearance and the completion of the transaction.

For information, email johan.ryrberg@ovako.com or call +46 0 70 538 76 70.

Ovako is a Stockholm-based company that produces and develops high-tech steel solutions for customers in the ball bearing, transportation and manufacturing industries.

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