Kojamo begins tender offers for notes due 2024, 2025

By Marisa Wong

Los Angeles, June 15 – Kojamo plc announced it is inviting holders of its outstanding notes from two series to tender their notes for purchase for cash, up to an aggregate maximum acceptance amount of €150 million, according to a press release.

Kojamo is offering to purchase the following notes:

• €500 million outstanding 1½% notes due 2024 (ISIN: XS1628004779), with pricing to be based on the 2024 notes interpolated mid-swap rate and a purchase spread of 140 basis points; and

• €500 million outstanding 1 5/8% notes due 2025 (ISIN: XS1785356251), with pricing to be based on the 2025 notes interpolated mid-swap rate and a purchase spread of 270 bps.

Pricing will be determined around 7 a.m. ET on June 22.

The company will also pay accrued interest.

The company will determine the allocation of funds between each series and may purchase considerably less (or none) of one series than of the other series.

Tenders may be subject to proration.

The offers expire at 11 a.m. ET on June 21.

Settlement is expected to be on June 27.

The company said the purpose of the offers is to proactively manage its upcoming debt maturities.

The dealer managers are Nordea Bank Abp (+45 6161 2996; nordealiabilitymanagement@nordea.com) and OP Corporate Bank plc (liabilitymanagement@op.fi).

The tender agent is Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: Arlind Bytyqi; kojamo@is.kroll.com; https://deals.is.kroll.com/kojamo).

Kojamo is a private residential real estate company based in Helsinki, Finland.

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