Kemira buys back €100 million of 2.5% notes in oversubscribed tender

By Susanna Moon

Chicago, May 18 – Kemira Oyj said it had received tenders for €165.46 million of its €200 million of 2.5% notes due May 27, 2019.

Kemira accepted for purchase €99,999,000 of the notes using a proration factor of 60.464%, according to a company update on Thursday.

The company said on May 10 that it was tendering for up to €100 million of notes at a purchase price of €1,049.86 per €1,000 principal amount plus accrued interest.

The tender offer ran for a week until 10 a.m. ET on May 17, with settlement expected to follow on June 2.

Kemira also plans to price new euro-denominated fixed-rate notes, and the offer is contingent on the issue of the new notes.

The new issue condition still has not been met yet, the company added.

Nordea Bank AB (publ) (NordeaLiabilityManagement@nordea.com or +45 6161 2996) is the dealer manager. Nordea Bank AB (publ), Finnish Branch is the tender agent.

Kemira is a Helsinki, Finland-based chemicals company that focuses on water quality and quantity management.

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