Saab AB (publ) Announces Final Tender Results for Medium Term Notes and Issue of New Medium Term Notes
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
Saab AB (publ) (“Saab” or the “Issuer”) today announces the final results of its invitation dated 13 September 2018 to the holders of its outstanding notes outlined below (together, the “Notes”) to tender their Notes for purchase by the Issuer for cash (the “Tender Offer”).
The Tender Offer was made on the terms and subject to the conditions set out in a tender information document dated 13 September 2018 (the “Tender Information Document”), available on the website of the Issuer (www.saabgroup.com, investor, debt and funding).
At the expiration of the Tender Offer at 12:00 CET on 20 September 2018, valid tender instructions of SEK 691,000,000 in aggregate nominal amount of Notes were received pursuant to the Tender Offer. Details of tendered amount per ISIN are set out below.
The Issuer announces that the New Financing Conditions (as defined in the Tender Information Document) have been met and that a total nominal amount of new notes of (i) SEK 950,000,000 with a maturity of three (3) years and (ii) SEK 120,000,000 with a maturity of five (5) years has been successfully issued under its SEK 10,000,000,000 medium term note programme (the “New Notes”). Accordingly, all valid tender instructions received pursuant to the Tender Offer will be accepted for purchase by the Issuer.
The purchase price payable per Note is as set out below, in addition to which the Issuer will pay an amount equal to any accrued and unpaid interest on the relevant Notes (in accordance with the terms and conditions of the Notes):
Description of the Notes / ISIN / Offered Tendered Amount / Accepted Tender Amount / Outstanding Amount / Purchase Price
Floating Rate Notes due 10 Dec 2018 / SE0005567070 / SEK 75,000,000 / SEK 75,000,000 / SEK 127,000,000 / 100.212%
Fixed Rate Notes 3.250% due 10 Dec 2018 / SE0005567088 / SEK 27,000,000 / SEK 27,000,000 / SEK 83,000,000 / 100.669%
Floating Rate Notes due 10 Sep 2019 / SE0007499975 / SEK 374,000,000 / SEK 374,000,000 / SEK 201,000,000 / 100.865%
Floating Rate Notes due 12 Dec 2019 / SE0006027249 / SEK 204,000,000 / SEK 204,000,000 / SEK 296,000,000 / 101.129%
Fixed Rate Notes 2.750% due 12 Dec 2019 / SE0006027231 / SEK 11,000,000 / SEK 11,000,000 / SEK 89,000,000 / 103.200%
The settlement date for the Tender Offer is set to 27 September 2018 (the “Settlement Date”). All Notes purchased by the Issuer will be cancelled. Notes not tendered pursuant to the Tender Offer will remain outstanding. The total amount of Notes not tendered pursuant to the Tender Offer and hence outstanding amounts to SEK 796,000,000.
Settlement of the transactions pursuant to the Tender Offer will occur as a secondary trade via Nordea Bank AB (publ) and Swedbank AB (publ) (together the “Joint Bookrunners” or the “Dealer Managers”). All tendering Noteholders should coordinate the trade bookings with their local sales representative immediately.
Information about the Tender Offer may be obtained from the Dealer Managers.
Joint Bookrunners and Dealer Managers
Nordea Bank AB (publ)
Swedbank AB (publ)
Saab AB (publ)
Group Treasurer Stefan Lind
Saab AB (publ)
Head of Investor Relations Ann-Sofi Jönsson
Mobile: +46 734 187 214
This announcement must be read in conjunction with the Tender Information Document. No offer or invitation to acquire or sell any securities is being made pursuant to this announcement.
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 Notes and the New Notes 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, in the United States or to, or for the account or benefit of, U.S. persons. This announcement 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 (in particular, the United States and the United Kingdom) 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.
For further information, please contact:
Saab Press Centre,
+46 (0)734 180 018
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Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers’ changing needs.