Teollisuuden gets tenders for €346.22 million of 2.5% notes due 2021

By Sarah Lizee

Olympia, Wash., Sept. 5 – Teollisuuden Voima Oyj said holders tendered €346,219,000 of its €500 million 2.5% notes due March 17, 2021 in an offer that expired at 11 a.m. ET on Sept. 4.

The company will accept all notes tendered in the offer, according to an announcement.

The purchase price is 104.192. The purchase price equals the value of all remaining payments of principal and interest on the notes up to and including the maturity date, discounted to the settlement date at a discount rate equal to the fixed purchase yield of negative 0.25%, minus accrued interest of €12.02 per €1,000 note.

Settlement is slated for Sept. 9.

The dealer managers are BNP Paribas (+44 20 7595 8668, liability.management@bnpparibas.com) and Nordea Bank Abp (+45 5547 5895, nordealiabilitymanagement@nordea.com). The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, tvo@lucid-is.com).

Teollisuuden is an electricity company based in Eurajoki, Finland.

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