Caverion Corporation (“Caverion” or the “Company”) issues new EUR 75 million senior unsecured fixed rate notes with maturity on 28 March 2023 (the “New Notes”). The four year New Notes carry a fixed annual interest rate of 3.250 per cent per annum, and have an issue price of 100 per cent. The proceeds from the New Notes will be used for partial redemption of the hybrid notes issued on 16 June 2017, for general corporate purposes, and investments in accordance with Caverion’s strategy, including acquisitions.
“I am very satisfied with the outcome of today’s transaction. The senior bond issue opens up a new instrument for Caverion in the capital markets and diversifies our funding base further. With the proceeds from the new issue we will partially redeem our hybrid notes and proactively manage our debt portfolio. This transaction supports our “Fit for Growth” strategy and moving us from the Fit phase towards the Growth phase,” says Martti Ala-Härkönen, Chief Financial Officer of Caverion. The New Notes were well received in the market and substantially oversubscribed.
Caverion will apply for the listing of the New Notes on the official list of Nasdaq Helsinki Ltd. The settlement date of the New Notes is on 28 March 2019.
Nordea Bank Abp and Skandinaviska Enskilda Banken AB (publ) act as Joint Lead Managers for the issuance of New Notes. Castrén & Snellman Attorneys Ltd acts as legal advisor to Caverion Corporation and Joint Lead Managers.
Distribution: Nasdaq Helsinki, principal media, www.caverion.com
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, NEW ZEALAND, SOUTH AFRICA, SINGAPORE, JAPAN OR SUCH OTHER JURISDICTION OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW NOTES, THE TENDER OFFER OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication does not constitute an offer of securities for sale in the United States. The New Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
This communication does not constitute an offer of New Notes to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Notes. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (iii) high net worth entities falling within Article 49(2) of the Order and (iv) other persons to whom it may lawfully be communicated (all such persons together being referred to as “relevant persons”). In addition, this communication is, in any event only directed at persons who are “qualified investors” pursuant to the Prospectus Directive (2003/71/EC, as amended). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.