OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
September 16, 2014 at 11.00 am EET
Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia, Singapore, Hong Kong, or any other jurisdiction in which the distribution or release would be unlawful.
Outokumpu is considering the issuance of a new senior secured fixed rate bond with a maturity of five years. The potential issue is expected to take place in the near future subject to market conditions. The target size of the issue is approximately EUR 200 million.
At the same time, Outokumpu announces, for cash and on the terms and conditions set out in the Tender Offer Memorandum, a voluntary tender offer for its EUR 250 million 5.125 per cent notes issued on June 24, 2010 and maturing on June 24, 2015. The maximum amount of notes tendered under the tender offer is EUR 100 million and the tender offer is subject to the successful completion of the issuance of the above mentioned new bond.
The purchase price of the notes is EUR 1,033 per EUR 1,000 in principal amount of the notes. Accrued and unpaid interest will be paid in respect of all notes validly tendered and delivered and accepted for purchase by Outokumpu pursuant to the tender offer.
The offer period begins on September 16, 2014 and ends at 4.00 p.m. EET on September 23, 2014. The offer results will be announced on September 25, 2014.The expected settlement date is September 30, 2014. The tender offer will be made in accordance with the Tender Offer Memorandum dated September 16, 2014.
The proceeds from the bond issue will be used to refinance the existing indebtedness of Outokumpu, including the redemption of the notes maturing in June 2015.
Most Finnish account operators will send their clients a notification concerning the tender offer, as well as instructions and an approval form.
Nordea Bank Finland Plc and Pohjola Bank plc act as dealer managers for the tender offer and Nordea Bank Finland Plc as tender agent. Information in respect of the tender offer may be obtained from the tender agent, tel. +358 9 165 51404 or e-mail issuerservices.fi@nordea.com.
Nordea Bank Finland Plc and Pohjola Bank plc act as coordinators and lead managers for the bond issue. The other lead managers are Danske Bank A/S, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ).
For more information:
Investors: Johanna Henttonen, tel. +358 9 421 3804, mobile +358 40 530 0778
Media: Saara Tahvanainen, tel. +358 40 589 0223
Outokumpu Group
Outokumpu is a global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs more than 12 000 professionals in more than 30 countries, with headquarters in Espoo, Finland and shares listed in the NASDAQ OMX Helsinki. www.outokumpu.com
Disclaimer
Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia, Singapore, Hong Kong or in any other jurisdiction where such release, publication or distribution would be unlawful. Persons who reside outside Finland may receive this release only in compliance with applicable exemptions and restrictions.
The information contained in this release shall not be construed as an offer to purchase or sell, or as a solicitation of an offer to purchase or sell with respect to any bonds. In particular, this release does not constitute an offer to purchase or sell, or a solicitation of offers to purchase or sell, any securities in the United States. Any bonds referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
