Finland’s Elisa opens tender for €300 million notes due 2024 at 98.57

By William Gullotti

Buffalo, N.Y., Sept. 18 – Elisa Corp. commenced a cash tender offer to purchase up to €150 million of its €300 million 0.875% notes maturing March 17, 2024 (ISIN: XS1578886258) for cash at 98.57, according to an announcement on Monday.

Tenders may be prorated if the cap is exceeded and the company does not elect to increase or waive the maximum tender amount.

Tender instructions will be irrevocable.

The tender offer will expire at 11 a.m. ET on Sept. 25.

Results are expected to be announced, as soon as practicable, on Sept. 26 with settlement scheduled Sept. 27.

The tender offer is being conducted to proactively manage the company’s upcoming debt redemptions and to extend the average debt maturity profile. It is further conditioned on the issue of a new green euro-denominated fixed-rate series under Elisa’s €1.5 billion euro medium-term note program.

The dealer managers are Nordea Bank Abp (+45 55 46 90 82, attn.: Nordea liability management, NordeaLiabilityManagemenet@nordea.com) and Skandinaviska Enskilda Banken AB (publ) (+44 7818 426 149, attn.: liability management, liabilitymanagementdcm@seb.se). Kroll Issuer Services Ltd. (+44 20 7704 0880, attn.: Thomas Choquet, elisa@is.kroll.com, https://deals.is.kroll.com/elisa) is acting as tender agent.

Elisa is a Helsinki, Finland-based company that provides information and communication technology services in Finland and Estonia.

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