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Catella — Capital/Financing Update 2021
Mar 2, 2021
3024_rns_2021-03-02_765dd373-a4de-466a-a6f7-d53603655040.pdf
Capital/Financing Update
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PRESSMEDDELANDE
Stockholm, 2 Mars 2021
CATELLA
Catella AB (publ) avser att emittera en ny senior icke-säkerställd obligation samt offentliggör ett frivilligt återköpserbjudande av utestående seniora icke-säkerställda obligationer
EJ FÖR DISTRIBUTION I ELLER TILL, ELLER TILL NÅGON PERSON SOM BEFINNER SIG I ELLER ÄR BOSATT I USA, DESS TERRITORIUM OCH BESITTNINGAR (INKLUSIVE PUERTO RICO, DE AMERIKANSKA JUNGFRUÖARNA, GUAM, AMERIKANSKA SAMOA, WAKEÖARNA, NORDMARIANERNA, VARJE DELSTAT I USA OCH DISTRICT OF COLUMBIA) ELLER TILL NÅGON AMERIKANSK PERSON (U.S. PERSON, SÅSOM DEFINIERATS I REGULATION S I UNITED STATES SECURITIES ACT OF 1933, I DESS NUVARANDE LYDELSE) ELLER NÅGON JURISDIKTION DÄR UTGIVANDE, PUBLICERING ELLER DISTRIBUTION AV DETTA DOKUMENT ÄR FÖRBJUDET ENLIGT LAG. DISTRIBUTION AV DETTA DOKUMENT KAN STRIDA MOT LAG I VISSA JURISDIKTIONER (I SYNNERHET USA OCH STORBRITANNIEN)
Catella AB (publ) ("Catella" eller "Bolaget") har lämnat i uppdrag till ABG Sundal Collier AB och Nordea Bank Abp att gemensamt agera arrangörer och s.k. bookrunners och arrangera möten med obligationsinvesteringar för att undersöka möjligheten att emittera nya SEK-denominerade seniora icke-säkerställda obligationer med en förväntad volym om 1 000 miljoner kronor under en ram om 1 500 miljoner kronor med en förväntad löptid om 4,0 år (de "Nya Obligationerna"). En kapitalmarknadstransaktion kan komma att följa, med förbehåll för rådande marknadsförhållanden.
I samband med emissionen av Nya Obligationerna, erbjuder Catella innehavare av Bolagets utestående seniora icke-säkerställda obligationer med rörlig ränta och med förfall 15 juni 2022, med utestående volym om 750 miljoner kronor (ISIN:SE0009994718) ("Befintliga Obligationerna"), att delta i ett återköp där Bolaget köper tillbaka samtliga Befintliga Obligationer mot kontant vederlag ("Återköpserbjudandet") till ett pris motsvarande 101,30 procent av det nominella beloppet, plus upplupen och icke betald ränta. De Befintliga Obligationerna kommer att återköpas i enlighet med bestämmelserna och villkoren som beskrivs i ett återköpsdokument daterat 2 mars 2021 ("Återköpsdokumentet").
Återköpsdokumentet för Återköpserbjudandet finns under följande länk: catella.com/återköpserbjudande.
Återköpserbjudandet löper ut kl. 12:00 CET den 9 mars 2021 om det inte förlängs, återupptas, dras tillbaka eller avslutas efter beslut av Bolaget. Likvid för Återköpserbjudandet förväntas att redovisas omkring den 17 mars 2021. Bolagets återköp av Befintliga Obligationer är villkorat av
Catella is a leading specialist in property investments and fund management, with operations in 13 countries. The group has assets under management amounted to SEK 130 billion at the end of the fourth quarter of 2020. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.
PRESSMEDDELANDE
STOCKHOLM
Stockholm, 2 Mars 2021
en framgångsrik emission av de Nya Obligationerna samt villkoren som beskrivs i återköpsdokumentet.
Innehavare av Befintliga Obligationer som accepterar Återköpserbjudandet kommer vara berättigade till prioriterad tilldelning av Nya Obligationer med förbehåll för de villkor som anges i Återköpsdokumentet.
Catella kommer att utnyttja sin rätt till frivillig förtida inlösen av de Befintliga Obligationer som inte har återköpts i enlighet med Återköpserbjudandet, villkorat av genomförandet av en framgångsrik emission av de Nya Obligationerna, i enlighet med obligationsvillkoren för de Befintliga Obligationerna. De Befintliga Obligationerna kommer i en sådan förtida inlösen att återköpas till ett pris motsvarande 101,20 procent av det nominella beloppet (plus upplupen och obetald ränta).
Bolaget har lämnat i uppdrag till ABG Sundal Collier AB och Nordea Bank Abp att gemensamt agera arrangörer och s.k. bookrunners i samband med en emission av de Nya Obligationerna samt att agera s.k. dealer managers och tender agents för Återköpserbjudandet. Roschier Advokatbyrå AB har utsetts till legal rådgivare.
Bilaga: Återköpsdokumentet (engelska).
Dealer Managers and Tender Agents:
ABG Sundal Collier AB
+46 8566 286 40
[email protected]
Nordea Bank Abp
+45 6161 2996
[email protected]
För ytterligare information, vänligen kontakta emittent:
Christoffer Abramson
CFO
+46 (0) 8 463 33 25
[email protected]
Denna information är sådan information som Catella är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning och lagen om värdepappersmarknaden (2007:528). Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 2 mars 2021 kl. 09.00 CET.
Catella is a leading specialist in property investments and fund management, with operations in 13 countries. The group has assets under management amounted to SEK 130 billion at the end of the fourth quarter of 2020. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.
PRESSMEDDELANDE
CATELLA
Stockholm, 2 Mars 2021
THIS DOCUMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) (THE "SECURITIES ACT") OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW.
CATELLA AB (publ)
Tender Information Document in respect of a tender offer for Catella AB (publ)'s outstanding senior unsecured bonds
Catella AB (publ), reg.no. 556079-1419 ("Catella" or the "Issuer") today announces its invitation to the holders of the bonds described under the heading "Purchase price" below (the "Bonds") (including any beneficial owners who hold their Bonds via nominees or custodians) (the "Bondholders") to tender any and all of their Bonds for purchase by the Issuer for cash (the "Tender Offer") subject to the satisfaction of the New Financing Conditions (as defined below) being met. The Issuer has appointed Nordea Bank Abp ("Nordea") and ABG Sundal Collier ("ABGSC") to act as dealer managers (the "Dealer Managers") in connection with the Tender Offer.
In conjunction with the Tender Offer, the Issuer intends to issue new SEK denominated senior unsecured bonds with an expected volume of SEK 1,000,000,000 under a framework of SEK 1,500,000,000 with an expected tenor of 4.0 years (the "New Bonds"), subject to market conditions. The Issuer has mandated Nordea and ABGSC as joint arrangers and bookrunners in respect of the issuance of the New Bonds.
The Tender Offer is made on the terms and subject to the conditions set out below.
Purchase price
Subject to the applicable minimum denomination in respect of the Bonds, the Issuer offers to purchase the Bonds at the purchase price set out below (the "Purchase Price"):
Description of the Bonds / ISIN / Issued Amount / Outstanding Amount / Minimum Denomination / Purchase Price
2017/2022 Sr Unsec FRN / SE0009994718 / SEK 750,000,000 / SEK 750,000,000 / SEK 1,000,000 / 101.30 %
The Issuer will also pay an amount equal to any accrued and unpaid interest on the Bonds on the Settlement Date (as defined below) in accordance with the terms and conditions of the Bonds ("Accrued Interest").
Catella is a leading specialist in property investments and fund management, with operations in 13 countries. The group has assets under management amounted to SEK 130 billion at the end of the fourth quarter of 2020. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.
PRESSMEDDELANDE
CATELLA
Stockholm, 2 Mars 2021
Deadline
The Tender Offer expires at 12:00 CET on 9 March 2021, unless extended, re-opened, withdrawn or terminated at the sole discretion of the Issuer (the "Expiration Date"). The Issuer will announce the results and (acting in its sole and absolute discretion) whether any Bonds will be accepted under the Tender Offer as soon as reasonably practicable after the pricing of the New Bonds. Settlement of the Tender Offer is expected to occur at or around 17 March 2021 (the "Settlement Date"). Settlement of the transactions pursuant to the Tender Offer will occur as a secondary trade via the Dealer Managers.
Subject to applicable law, the Issuer may, in its sole and absolute discretion, extend, re-open, amend or waive any condition of or terminate the Tender Offer at any time. Bondholders are advised to carefully read this document for the details of and information on the procedures for participating in the Tender Offer.
Purpose of the Tender Offer
The Tender Offer is being made as part of the Issuer's commitments to exercise active management of its balance sheet. The purpose of the Tender Offer is to pro-actively manage the Issuer's upcoming redemptions and to lengthen and diversify its debt maturity profile.
Priority in New Bonds
Bondholders who submit a valid tender instruction will be eligible to receive a priority in the allocation of the New Bonds if such order in the New Bonds is an integral multiple of the new minimum denomination of the New Bonds being, SEK 1,250,000 and provided that the Bondholder is an eligible buyer of the New Bonds given the target market for the New Bonds in accordance with Directive 2014/65/EU (MiFID II) and the applicable selling restrictions. Such priority in allocation will match in size the nominal volume submitted and accepted for tender, subject to eligibility with the minimum denomination requirements of the New Bonds. Bondholders tendering the minimum denomination of the Bonds of SEK 1,000,000, will be eligible to receive priority allocation of the new minimum denomination in the New Bonds of SEK 1,250,000. However, where the amount submitted for tender is (i) above SEK 1,000,000 and (ii) not an integral multiple of the minimum denomination of the New Bonds being SEK 1,250,000, the priority in the New Bonds will be scaled down to the nearest multiple of SEK 1,250,000. Any scaling made by the Issuer is binding on all Bondholders who validly tendered their Bonds.
New Financing Conditions
The Issuer's acceptance of Bonds validly tendered for purchase pursuant to the Tender Offer is conditional upon that, in the absolute and sole discretion and determination of the Issuer, (i) the terms and conditions of the New Bonds are satisfactory to the Issuer, including, but not limited to, as to the price and volume of the New Bonds and (ii) the successful outcome of the issuance of New Bonds (including the receipt of funds by the Issuer), which will enable the Issuer to finance the Purchase Price and Accrued Interest of the total amount of Bonds validly tendered and accepted for purchase pursuant to the Tender Offer (together "New Financing Conditions").
For the avoidance of doubt, the Issuer is not under any obligation to accept any tender of Bonds for purchase pursuant to the Tender Offer. Any tender of Bonds for purchase may be rejected by the Issuer for any reason, and the Issuer is not under any obligation to Bondholders to furnish any reason or justification for refusing to accept a tender of Bonds for purchase.
The Issuer's acceptance of Bonds validly tendered in accordance with the terms and conditions of the Tender Offer will be irrevocable, but in any event subject to the satisfaction of the New Financing Conditions.
Conditional upon the New Financing Conditions, Catella will exercise its right to make a voluntary early redemption of the Bonds which are not being tendered in the Tender Offer, in accordance with the terms and conditions of the Bonds. The Bonds will in such early redemption be redeemed at a price equal to 101.20 per cent. of the nominal amount (plus accrued and unpaid interest).
Restrictions: No offer or sale of New Bonds
This document does not constitute an offer or a sale of the New Bonds. The New Bonds are not being, and will not be, offered or sold in the United States. Nothing in this document constitutes an offer to sell or the solicitation of an offer to buy the New Bonds in the United States or any other jurisdiction. Securities may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act. The New Bonds have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act). Investors who wish to buy New Bonds should contact their sales contact at the Dealer Managers to obtain all relevant documentation.
Catella is a leading specialist in property investments and fund management, with operations in 13 countries. The group has assets under management amounted to SEK 130 billion at the end of the fourth quarter of 2020. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.
PRESSMEDDELANDE
CATELLA
Stockholm, 2 Mars 2021
Participation
Bondholders can only participate in the Tender Offer by submitting a valid tender instruction. Only Bondholders who are customers of, and can execute a secondary trade upon settlement with, Nordea or ABGSC with all required know your customer (KYC) and similar documentation in place to the satisfaction of Nordea or ABGSC, as applicable may participate in this Tender Offer and Bondholders must contact any of the Dealer Managers to receive an application form that includes the details of how to participate in the Tender Offer. Tender instructions given via the application form are irrevocable by the Bondholders, except for in the limited circumstances described in the application form.
Bondholders should consult their own tax, accounting, financial and legal advisers regarding the suitability to themselves of the tax, accounting, financial, legal and regulatory consequences of participating in the Tender Offer.
Bondholders who do not participate in the Tender Offer, or whose Bonds are not accepted for purchase by the Issuer, will continue to hold their Bonds subject to the terms and conditions of the Bonds.
To obtain an application form and participate in the Tender Offer please contact one of the Dealer Managers at the details below.
Placing fee
The Dealer Managers will be paid a fee by the Issuer in respect of the placement of the transaction relating to the New Bonds.
CONTACT INFORMATION
Joint Bookrunners and Dealer Managers
Nordea Bank Abp
Email: [email protected]
ABG Sundal Collier
Email: [email protected]
The Issuer
Catella AB (publ)
Christoffer Abramson
Email: [email protected]
This document is released by the Issuer and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the Tender Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this document is released, on behalf of the Issuer by Christoffer Abramson at 9.00 a.m. CET on 2 March 2021.
Catella is a leading specialist in property investments and fund management, with operations in 13 countries. The group has assets under management amounted to SEK 130 billion at the end of the fourth quarter of 2020. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.
PRESSMEDDELANDE
Stockholm, 2 Mars 2021
CATELLA
DISCLAIMER
This document contains important information which should be read carefully before any decision is made with respect to the Tender Offer. If any holder is in any doubt as to the action it should take or is unsure of the impact of the Tender Offer, it is recommended to seek its own financial and legal advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. Any holder whose Bonds are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or intermediary must contact such entity if it wishes to tender such Bonds pursuant to the Tender Offer. Neither the Issuer nor the Dealer Managers nor their respective directors, employees or affiliates makes any recommendation as to whether holders of Bonds should tender Bonds for purchase pursuant to the Tender Offer.
Offer and Distribution Restrictions
This document does not constitute an invitation to participate in the Tender Offer in any jurisdiction in which, or to any person to or from whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws. The distribution of this document in certain jurisdictions may be restricted by law. Persons into whose possession this document comes are required by each of the Issuer and the Dealer Managers to inform themselves about and to observe any such restrictions.
United States
The Tender Offer is not being made and will not be made, directly or indirectly, in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities exchange of, the United States or to any U.S. Person (as defined in Regulation S of the United States Securities Act of 1933, as amended (each a "U.S. Person")). This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication. Accordingly, copies of this document and any other documents or materials relating to the Tender Offer are not being, and must not be, directly or indirectly, mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States or to a U.S. Person and the Bonds cannot be tendered in the Tender Offer by any such use, means, instrumentality or facility or from or within or by persons located or resident in the United States or by any U.S. Person. Any purported tender of Bonds in the Tender Offer resulting directly or indirectly from a violation of these restrictions will be invalid and any purported tender of Bonds made by a person located in the United States, a U.S. Person, by any person acting for the account or benefit of a U.S. Person, or by any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States will be invalid and will not be accepted.
Each holder of Bonds participating in the Tender Offer will represent that it is not a U.S. Person, it is not located in the United States and is not participating in the Tender Offer from the United States, or it is acting on a nondiscretionary basis for a principal located outside the United States that is not giving an order to participate in the Tender Offer from the United States and who is not a U.S. Person. For the purposes of this and the above paragraph, "United States" means the United States of America, its territories and possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands), any state of the United States of America and the District of Columbia.
United Kingdom
This document and any other documents or materials relating to the Tender Offer is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order")) or any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order.
Catella is a leading specialist in property investments and fund management, with operations in 13 countries. The group has assets under management amounted to SEK 130 billion at the end of the fourth quarter of 2020. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.
PRESSMEDDELANDE
Stockholm, 2 Mars 2021
CATELLA
General
Neither this document nor the electronic transmission thereof constitutes an offer to buy or the solicitation of an offer to sell Bonds (and tenders of Bonds for purchase pursuant to the Tender Offer will not be accepted from holders) in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Tender Offer to be made by a licensed broker or dealer and the Dealers Managers or any of their affiliates are such a licensed broker or dealer in any such jurisdiction, the Tender Offer shall be deemed to be made by such affiliate, as the case may be, in such jurisdiction.
Further, the Tender Offer does not constitute or form part of (i) a prospectus within the meaning of Regulation (EU) 2017/1129 as supplemented from time to time by Commission delegated regulations (the "Prospectus Regulation"), nor (ii) a tender offer document as referred to in Chapter 2 a of the Swedish Financial Instruments Trading Act. Each holder participating in the Tender Offer will be deemed to give certain other representations in respect of the other jurisdictions referred to above and generally as set out in the application form for participating in the Tender Offer available from the Dealer Managers. Any tender of Bonds for purchase pursuant to the Tender Offer from a holder that is unable to make these representations will not be accepted.
The Issuer reserves the right, in its sole and absolute discretion, to investigate, in relation to any tender of Bonds for purchase pursuant to the Tender Offer, whether any such representation given by a holder is correct and, if such investigation is undertaken and as a result the Issuer determines (for any reason) that such representation is not correct, such tender or submission may be rejected.
Catella is a leading specialist in property investments and fund management, with operations in 13 countries. The group has assets under management amounted to SEK 130 billion at the end of the fourth quarter of 2020. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.