Teollisuuden Voima offers to purchase 2 5/8% notes due 2023

By Rebecca Melvin

Concord, N.H., March 23 – Teollisuuden Voima Oyj has launched a cash tender offer for any and all of its 2 5/8% notes due Jan. 13, 2023 (ISIN: XS1514470316), of which €311,777,000 are outstanding, according to a notice.

The issue was originally €500 million in size.

The purchase price will be based on a spread of 45 basis points over the benchmark interpolated Euribor and mid-swap rate.

Pricing will take place at 6 a.m. ET on March 31.

The offer expires at noon ET on March 30.

Results will be announced on March 31, with settlement expected to be April 1.

The tender offer is subject to new financing. In allocation of the new notes, the company may give preference to holders of the existing notes who participate in the tender offer.

Nordea Bank Abp (+45 6161 2996; nordealiabilitymanagement@nordea.com) and Swedbank AB (+46 700 92 92; liabilitymanagement@swedbank.se) are the dealer managers.

Lucid Issuer Services Ltd. (+44 20 7704 0880; tvo@lucid-is.com, https://deals.lucid-is.com/tvo) is the tender agent.

The nuclear power company is based in Eurajoki, Finland.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.