Ahlstrom, a global high performance fiber-based materials company, completes the partial repurchase of its hybrid bond (ISIN: FI4000006929) issued in November 2009.
The company has agreed to repurchase a nominal amount of EUR 45,500,000 in exchange for cash which represents 56.9 percent of the original EUR 80 million notional amount issued in 2009.
All tenders from noteholders have been accepted and will be executed according to the terms and conditions of the offer. The repurchase price will be 101 percent for the nominal amount plus the accrued interest until the settlement date October 2, 2013.
After completing this tender offer, Ahlstrom will have two hybrid bonds outstanding. The first one, issued in November 2009, amounts post-repurchase to EUR 34,500,000 million and is callable on November 25, 2013. The new hybrid bond, announced on September 19, 2013, will amount to EUR 100 million, and the first call date is in October, 2017.
Nordea Markets acts as the exclusive dealer manager and tender agent in the tender offer. Hannes Snellman Attorneys Ltd acts as a legal advisor to Ahlstrom.
