Storskogen contemplates issuance of senior unsecured bonds and announces a conditional partial tender offer of the outstanding 2021/2025 bonds

Storskogen has mandated Danske Bank, Nordea and Swedbank as global coordinators and joint bookrunners and DNB Markets and SEB as joint bookrunners to arrange a series of fixed income investor meetings starting on 24 September 2024, to explore the possibility of issuing senior unsecured bonds with a floating interest rate and a 4-year tenor (the “New Bonds”). A capital markets transaction with an expected volume of SEK 1.0 billion within a framework of SEK 2.0 billion will follow, subject to market conditions. The proceeds from the New Bonds will be used to finance the partial tender offer for the 2025 Bonds (as defined below) and for general corporate purposes.

In conjunction with the contemplated new issue, Storskogen has today announced an invitation to its external holders of SEK 1.75 billion bonds due 2025 with ISIN SE0017084650 (the “2025 Bonds”)¹, to tender their 2025 Bonds for purchase by Storskogen for cash at a price of 101.00 per cent of the nominal amount plus accrued and unpaid interest subject to a transaction cap at an amount equal to the total nominal amount of New Bonds issued (as further described in the Tender Information Document (as defined below)) (the “Tender Offer”). The 2025 Bonds will be repurchased subject to the terms described in the tender information document dated 24 September 2024 which is available on the link below (the “Tender Information Document”).

The Tender Offer expires at 12:00 CEST on 27 September 2024, unless extended, re-opened, withdrawn or terminated at the sole discretion of Storskogen. Settlement of the Tender Offer is expected to occur on or around 3 October 2024. Storskogen’s repurchase of the 2025 Bonds is conditional upon a successful issue of the New Bonds and subject to the terms in the Tender Information Document. Storskogen will, in connection with the allocation of the New Bonds, consider, among other factors, whether or not the relevant investor seeking an allocation of the New Bonds has, prior to such allocation, validly tendered 2025 Bonds pursuant to the Tender Offer, subject to the terms in the Tender Information Document. Holders of 2025 Bonds who subscribe and are allocated New Bonds will receive priority in the Tender Offer, subject to the terms in the Tender Information Document. The Tender Information Document is available on Storskogen’s website, via the following link: https://www.storskogen.com/en/investors/financing/

Danske Bank, Nordea and Swedbank act as global coordinators in respect of the issuance of the New Bonds. In addition, Danske Bank, Nordea and Swedbank together with DNB Markets and SEB act as joint bookrunners in respect of the issuance of the New Bonds and as dealer managers for the Tender Offer.