Espoo, Finland, 2016-12-29 15:20 CET (GLOBE NEWSWIRE) -- SRV GROUP PLC STOCK EXCHANGE RELEASE 29 DECEMBER 2016, AT 16.20
SRV redeems final EUR 16.7 million of its 2012 hybrid bonds
Not for release, publication or distribution, directly or indirectly, to any U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) or in or into the United States, Australia, Canada, Hong Kong, South Africa, Singapore and Japan or any other jurisdiction in which the distribution or release would be unlawful..
In December 2012, SRV Group Plc issued EUR 45 million domestic hybrid bonds (ISIN code: FI4000052311) (“2012 hybrid bonds”). In March 2016, SRV announced that the company had redeemed EUR 28.3 million of the 2012 hybrid bonds under the terms of the tender offer dated 7 March 2016. On 28 December 2016, the company redeemed the final EUR 16.7 million of the 2012 hybrid bonds.
The annual coupon of the bonds was 9.5%. The bonds had no maturity date, but the company had the right to redeem the bonds on the fourth anniversary of the issue date of the bonds.
The issued hybrid bonds strengthened the company’s solvency and financial position. The bonds were offered to selected international investors as a private placement in Finland.
Further information:
Ilkka Pitkänen, CFO, +358 40 667 0906, ilkka.pitkanen@srv.fi
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