NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 4 MARCH 2014 AT 4:15 P.M
LEMMINKÄINEN CORPORATION ISSUES EUR 70 MILLION HYBRID BOND
Lemminkäinen Corporation issues a EUR 70 million hybrid bond. The bond bears a fixed interest rate of 8.75 per cent per annum until 30 March 2018 and a floating interest rate thereafter. The hybrid bond has no maturity date but the issuer is entitled to redeem the hybrid bond after 4 years. The issue date of the hybrid bond is 11 March 2014. The hybrid bond was oversubscribed and upsized from EUR 50 million due to the strong demand. The proceeds of the hybrid bond will be used to pay down existing debt and in general corporate purposes.
"We are pleased with the outcome of the issue. The hybrid bond will strengthen the company's capital structure and financial position. In addition it supports the implementation of our strategy which we published last year," says Robert Öhman, CFO.
A hybrid bond is an instrument which is subordinated to the company’s other debt obligations and which is treated as equity in the IFRS financial statements. The hybrid bond does not confer to its holders the rights of a shareholder and does not dilute the holdings of the current shareholders.
Robert Öhman, CFO
Tel. +358 2071 53515
NASDAQ OMX Helsinki
Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in northern Europe and employ about 7,800 experts. In 2013, our net sales were about EUR 2.2 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com
This release is for informational purposes only and is not to be construed as an offer to purchase or sell, or a solicitation of an offer to purchase or sell, with respect to any hybrid bond. The distribution of this release and the related material concerning the issuance of the hybrid bond are prohibited by law in certain countries. The hybrid bond is not being offered to the public either inside or outside of Finland. Persons resident outside of Finland may receive this release and the related hybrid bond documentation only in compliance with applicable exemptions or restrictions. Persons into whose possession this release and the related hybrid bond documentation may come are required to inform themselves about and comply with such restrictions. This release and the related hybrid bond documentation may not be distributed or published in any country or jurisdiction or otherwise if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of a state or jurisdiction other than Finland, including the USA, Australia, Canada, Hong Kong, South Africa and Japan. The information contained herein shall not constitute an offer to sell or tender, or a solicitation of an offer to buy or sell the hybrid bond to any persons in any jurisdiction in which such offer, solicitation or sale or tender would be unlawful. Lemminkäinen’s representatives assume no legal responsibility for such violations, regardless of whether the parties contemplating investing in the hybrid bond are aware of these restrictions or not. Lemminkäinen’s hybrid bond will not be registered under the US Securities Act of 1933, nor under any securities legislation of any state in the United States, and it may not be offered, sold, resold, donated, delivered, distributed, bought or transferred in the United States or to US citizens or on behalf of US citizens, except pursuant to an exemption from the registration requirements of the Securities Act of 1933 and any applicable state law legislation.