Heimstaden Bostad gives results of tender offer for three notes

By William Gullotti

Buffalo, N.Y., Dec. 8 – Heimstaden Bostad AB gave the results of its any and all cash tender offer for three series of notes, according a notice and a press release on Friday.

As previously reported, the issuer is offering a fixed purchase price of par for all three series, plus accrued interest.

As of the offer expiration at 6 a.m. ET on Dec. 8, Heimstaden Bostad accepted for purchase

• SEK 419 million of the outstanding SEK 500 million floating-rate notes due April 2024 (ISIN: XS2327839580);

• All of the NOK 200 million floating-rate notes due April 2024 (ISIN: NO0010976319); and

• NOK 428 million of the outstanding NOK 500 million floating-rate notes due June 2024 (ISIN: NO0010838899).

Settlement will occur on or around Dec. 19.

The company indicated that, due to the results of the offer, it may exercise a clean-up call for the SEK-denominated series after settlement.

As previously reported, the company said the purpose of the tender offer is, among other things, to proactively improve its liability composition and debt maturity profile.

The dealer managers are Danske Bank A/S (liabilitymanagement@danskebank.dk) and Nordea Bank Abp (nordealiabilitymanagement@nordea.com).

Heimstaden Bostad is a residential real estate company based in Malmo, Sweden.

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