Sanoma Corporation, Stock Exchange Release, 24 May 2016 at 09:00 CET+1
Sanoma (the “Company”) today announces the final results of the invitation by Nordea Bank Danmark A/S (the “Offeror”) on behalf of the Company to all holders of the outstanding EUR 400 million 5.00% Notes due 20 March 2017 (ISIN: XS0759680860) (the “Notes”) to tender their Notes for purchase by the Offeror for cash (the “Offer”).
Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum in respect of the Offer dated 13 May 2016.
At the Expiration Deadline of 4:00 p.m. CET on 23 May 2016, valid tender instructions of EUR 300,280,000 in aggregate principal amount of Notes were received pursuant to the Offer.
The Company announces that the Final Acceptance Amount has been set by the Offeror at an aggregate principal amount of EUR 200 million of the Notes. Accordingly, pursuant to the terms of the Tender Offer Memorandum, all valid tenders will be accepted in full up to the minimum denomination of the Notes, with all additional Notes tendered accepted subject to a proration factor of 63.164%, rounded down to the nearest EUR 1,000 in accordance with the terms of the Tender Offer Memorandum. The Company also announces that the New Issue Condition has been satisfied.
The Purchase Price for the Notes is 104.10%. The Offeror will also pay accrued and unpaid interest on Notes accepted for purchase in the Offer.
The Settlement Date for the Offer is 26 May 2016. All Notes purchased by the Company will be cancelled.
Sanoma’s Investor Relations, Pekka Rouhiainen, tel. +358 40 739 5897
Nordea Markets: (+45 33331675 / bibi.larsen@Nordea.com)
OP Corporate Bank: (+358 (0) 102527970 / firstname.lastname@example.org)
Tender Agent: Lucid Issuer Services Limited (+44 20 7704 0880 / email@example.com)
Sanoma is an inspiring, relevant and trusted consumer media and learning company. Ever since its formation in 1889, the company has held creativity and independent thinking at its core in order to deliver high-quality content in new and different ways.
Sanoma’s consumer media business provides consumers with engaging and personalised content through cross-media brands that touch their lives. Sanoma’s close relationships with its consumers enable the company to offer unique value-added marketing solutions to its business partners.
Sanoma Learning’s learning solutions enable teachers to excel at developing the talents of every child, creating opportunities for children to advance their prospects in life.
With operating companies in Finland, the Netherlands, Belgium, Poland and Sweden, Sanoma realised net sales of more than EUR 1.7 billion in 2015. The company employed over 6,000 employees.
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