Sampo Oyj Sampo Plc Announces Final Results Of Its Cash Tender Offers
December 01 2020 - 11:15AM
Dow Jones News
TIDMSAMPO
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JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT
SAMPO PLC STOCK EXCHANGE RELEASE
1 December 2020 5:45 pm
Sampo plc announces final results of its cash tender offers in respect
of its outstanding EUR 500,000,000 1.50 per cent. Notes due 16 September
2021, SEK 700,000,000 0.875 per cent. Notes due 23 May 2022, SEK
1,300,000,000 Floating Rate Notes due 23 May 2022, EUR 750,000,000 1.00
per cent. Notes due 18 September 2023 and EUR 500,000,000 1.250 per
cent. Notes due 30 May 2025
This announcement is released by Sampo plc and contains inside
information for the purposes of Article 7 of the Market Abuse Regulation
(EU) 596/2014 ("MAR"), encompassing information relating to the 2021
Notes, 2022 Fixed Rate Notes, 2022 Floating Rate Notes, 2023 Notes and
2025 Notes described above (each as defined below). For the purposes of
MAR and Article 2 of the Commission Implementing Regulation (EU)
2016/1055, this announcement is made by Jarmo Salonen, the Head of
Investor Relations and Group Communications of Sampo plc.
Sampo plc (the "Issuer") today announces the final results of its
invitations to holders of its outstanding EUR 500,000,000 1.50 per cent.
Notes due 16 September 2021 (ISIN: XS1110299036) (the "2021 Notes"), SEK
700,000,000 0.875 per cent. Notes due 23 May 2022 (ISIN: XS1823483414)
(the "2022 Fixed Rate Notes"), SEK 1,300,000,000 Floating Rate Notes due
23 May 2022 (ISIN: XS1823484222) (the "2022 Floating Rate Notes"), EUR
750,000,000 1.00 per cent. Notes due 18 September 2023 (ISIN:
XS1520733301) (the "2023 Notes") and EUR 500,000,000 1.250 per cent.
Notes due 30 May 2025 (ISIN: XS1622193750) (the "2025 Notes") (together,
the "Securities" and each series of Securities, a "Series") to (i)
tender any and all of their 2023 Notes and (ii) to tender their 2021
Notes, 2022 Fixed Rate Notes, 2022 Floating Rate Notes and 2025 Notes up
to (subject as set out herein and allocated in the Issuer's sole
discretion) an aggregate principal amount of the Euro Equivalent of EUR
750,000,000 less the aggregate principal amount of the 2023 Notes
validly tendered and accepted for purchase, in each case for purchase by
the Issuer for cash.
Such invitations (the "Tender Offers") were announced on 23 November
2020 and were made on the terms and subject to the conditions contained
in the tender offer memorandum dated 23 November 2020 (the "Tender Offer
Memorandum") prepared by the Issuer. Capitalised terms used and not
otherwise defined in this announcement have the meanings given thereto
in the Tender Offer Memorandum.
Final Acceptance Amount and Pricing Information
As at the Expiration Time, being 5.00 pm Central European time on 30
November 2020, the Issuer had received valid tenders for purchase
pursuant to the Tender Offers of: (i) EUR 139,609,000 of the 2021 Notes;
(ii) SEK 582,000,000 of the 2022 Fixed Rate Notes; (iii) SEK
1,050,000,000 of the 2022 Floating Rate Notes; (iv) EUR 228,448,000 of
the 2023 Notes; and (v) EUR 127,161,000 of the 2025 Notes.
The Issuer has decided to set the Final Acceptance Amount at EUR
654,974,480 (using the Applicable SEK/EUR Exchange Rate at SEK 1 = EUR
0.09789, where applicable). Pricing for the Tender Offers took place at
or around 2.00 pm Central European time today.
A summary of the final results of, and pricing for, each Series of
Securities appears below:
Any and all Securities
EUR 750,000,000 1.00 per cent.
Description of the Securities Notes due 18 September 2023
------------------------------------ ------------------------------
ISIN XS1520733301
------------------------------------ ------------------------------
Principal Amounts of the Securities
Accepted for Purchase EUR 228,448,000
------------------------------------ ------------------------------
Tender Price 104.087%
------------------------------------ ------------------------------
Accrued Interest 0.205%
------------------------------------ ------------------------------
Benchmark Rate N/A
------------------------------------ ------------------------------
Fixed Purchase Spread N/A
------------------------------------ ------------------------------
Fixed Purchase Yield -0.450%
------------------------------------ ------------------------------
Scaling Factor N/A
------------------------------------ ------------------------------
Capped Tender Offer Securities
EUR 500,000,000
EUR 500,000,000 SEK 700,000,000 SEK 1,300,000,000 1.250 per
1.50 per cent. 0.875 per cent. Floating Rate cent. Notes
Description Notes due 16 Notes due 23 Notes due 23 due 30 May
of the Securities September 2021 May 2022 May 2022 2025
------------------- --------------- ---------------- ----------------- ---------------
ISIN XS1110299036 XS1823483414 XS1823484222 XS1622193750
------------------- --------------- ---------------- ----------------- ---------------
Principal Amounts
of the Securities
Accepted for
Purchase EUR 139,609,000 SEK 582,000,000 SEK 1,050,000,000 EUR 127,161,000
------------------- --------------- ---------------- ----------------- ---------------
Tender Price 101.586% 101.365% 101.073% 106.773%
------------------- --------------- ---------------- ----------------- ---------------
Accrued Interest 0.316% 0.459% 0.017% 0.637%
------------------- --------------- ---------------- ----------------- ---------------
Interpolated
Mid-Swap Rate
Benchmark Rate N/A N/A N/A of -0.482%
------------------- --------------- ---------------- ----------------- ---------------
Fixed Purchase
Spread N/A N/A N/A 15 bps
------------------- --------------- ---------------- ----------------- ---------------
Fixed Purchase
Yield -0.500% -0.050% N/A -0.332%
------------------- --------------- ---------------- ----------------- ---------------
Scaling Factor N/A N/A N/A N/A
------------------- --------------- ---------------- ----------------- ---------------
General
The Settlement Date in respect of the Securities accepted for purchase
pursuant to the Tender Offers is expected to be 2 December 2020.
Following settlement of the Tender Offers, (i) EUR 360,391,000 of the
2021 Notes; (ii) SEK 118,000,000 of the 2022 Fixed Rate Notes; (iii) SEK
250,000,000 of the 2022 Floating Rate Notes; (iv) EUR 521,552,000 of the
2023 Notes; and (v) EUR 372,839,000 of the 2025 Notes will remain
outstanding.
The Issuer will also pay an Accrued Interest Payment in respect of
Securities purchased pursuant to the Tender Offers as set out in the
table above.
Contact information
Dealer Managers for the Tender Offers:
Citigroup Global Markets Limited
Telephone: +44 20 7986 8969
Attention: Liability Management Group
Email:
https://www.globenewswire.com/Tracker?data=606Uw2-ivVmuXIFMI2FxA-li0a-UgE1fnsfxrZJSuPPZzc7SXpWCfPzqy00sVsZbK7oYvQK4wdHffYD_GXV2mLT3V7d4lALuMqYdpK82yh-o0NPhczDerrxGABHos9ARPN5wHnUkDDETd3hha-mRyQ==
liabilitymanagement.europe@citi.com
Nordea Bank Abp
Telephone: +45 61612996
Attention: Nordea Liability Management
Email:
https://www.globenewswire.com/Tracker?data=YfcCjLqIfHQu1wj4oCniy5AGVbCnu2lDjEc3dXhCAgj4ROp96etxs6PYiqIM9wRqc79qzBVsiPTptsYygc-3CjH3pLFbprpSel7eBC7tua6FkaPytl20mg0LNDtu7ps13JGs9_dtKNRHT_Hk7pF7AA==
nordealiabilitymanagement@nordea.com
Tender Agent for the Tender Offers:
Lucid Issuer Services Limited
Telephone: +44 20 7704 0880
Attention: Paul Kamminga
Email:
https://www.globenewswire.com/Tracker?data=vyGUV8lkFFZQz75yV9XGeaeq__vr2w-l-dmKu6IA4qA_CTz9qQ89qh1gmuMsXXGdDYa4uYDLSkcd87WgoO0PO2ZYadxvdRaEc8iCY84xy5I=
sampo@lucid-is.com
Issuer:
SAMPO PLC
Jarmo Salonen
Head of Investor Relations and Group Communications
Telephone: +358 10 516 0030
Email:
https://www.globenewswire.com/Tracker?data=VV2nDKNC1jUibUzUzENGlGL_SAwYeKZaeXHRIdvxeJ6wffKT9XgPyPZ9hwvy-I_LElq_qWDWCDy5CRJRYoYiDYOm4hmDG7nq5gov_1V-ruM=
jarmo.salonen@sampo.fi
DISCLAIMER:
The offer period for the Offers has now expired. No further tenders of
any Securities may be made pursuant to the Tender Offers. This
announcement must be read in conjunction with the Tender Offer
Memorandum. No offer or invitation to acquire any securities is being
made pursuant to this announcement. The distribution of this
announcement and the Tender Offer Memorandum in certain jurisdictions
may be restricted by law. Persons into whose possession this
announcement and/or the Tender Offer Memorandum comes are required by
each of the Issuer, the Dealer Managers and the Tender Agent to inform
themselves about, and to observe, any such restrictions.
Distribution:
Nasdaq Helsinki
London Stock Exchange
The principal media
Financial Supervisory Authority
https://www.globenewswire.com/Tracker?data=jgN5lKHIXsida7oCUYk1k0z2BKCtg1corMhJk2DuGz1utSFJYQnOg5_hv-N34sz8Ib9vL8zkyETUCfLlCioWng==
www.sampo.com
(END) Dow Jones Newswires
December 01, 2020 11:00 ET (16:00 GMT)
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