STOCKHOLM, Nov. 8, 2019 /PRNewswire/ -- Corral Petroleum Holdings AB (publ) (the "Issuer"), the parent company of Preem AB (publ), has today announced that it will exercise its right to redeem the outstanding principal amount of its EUR 570 million Senior PIK Toggle Notes due 2021 (the "Euro Notes") and SEK 500 million Senior PIK Toggle Notes due 2021 (the "Krona Notes" and, collectively with the Euro Notes, the "Notes") issued pursuant to the indenture dated as of May 9, 2016 between, among others, the Issuer and Deutsche Trustee Company Limited, as trustee (the "Indenture"). The redemption is conditional on the closing of refinancing transactions.

Subject to satisfaction of the condition, the Notes will be redeemed on November 26, 2019 (the "Redemption Date") at redemption prices of 105.87 per cent of the principal amount thereof, in the case of the Euro Notes and 106.125 per cent of the principal amount thereof, in the case of the Krona Notes, in each case plus an amount of accrued and unpaid interest to, but not including, the Redemption Date. From and after the Redemption Date, all interest on the Notes will cease to accrue, the Notes will no longer be deemed outstanding and all rights of the holders of the Notes will terminate.

The notice of redemption specifying the terms, conditions and procedures for the conditional redemption of the Notes (the "Notice of Conditional Redemption") will be distributed to holders of record of the Notes. A copy of the Notice of Conditional Redemption may also be found on the Issuer's website at www.corral.se and via the information facility of the Luxembourg Stock Exchange at www.bourse.lu

Please note that this press release is for information purposes only and does not constitute a notice of redemption of the Notes, nor does it constitute an offer to sell, or a solicitation of an offer to purchase, any securities in any state or jurisdiction whatsoever. In particular, this announcement should not be published, distributed or released in the United States, Australia or Japan.

For further information, please contact:
Amelie Wilson
Investor Relations Manager
Tel: + 46 (0)70-450-10-10
Email: amelie.wilson@preem.se

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