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Company announcement 16/2024 (23.10.2024)
European Energy A/S: Final tender offer results for existing bonds (2021/2025) and existing bonds (2022/2026) and pricing of new green bonds
European Energy A/S (the “Company”) today announced on October 21, 2024, the holders of the Company’s outstanding senior unsecured green bonds due 2025 (ISIN DK0030494505) (the “Existing Notes (2021/2025)”). We have announced the final results of the recruitment. ) and the Outstanding Senior Unsecured Green Bonds due 2026 with ISIN DK0030511613 (the “Existing Notes (2022/2026)”), the Existing Notes (2021/2025) and the Existing Notes ( 2022/2026). Acquisition by the Company (hereinafter referred to as the “Tender Offer”).
This tender offer was made pursuant to the terms and conditions set out in the Tender Information Document dated October 21, 2024 (the “Tender Information Document”), which is available on the Company’s website (www.europeanenergy.com).
At the close of the tender offer at 15:30 CET on 23 October 2024 (time of book closing of the bookbuilding process for the New Green Bonds), (i) the effective The bidding instructions are as follows. Existing bonds (2022/2026) with an aggregate notional amount of EUR 114,437,100 and (ii) an aggregate notional amount of EUR 69,323,000 were received pursuant to the tender offer. Details of the subscription amounts for each of the Existing Bonds (2021/2025) and Existing Bonds (2022/2026) are provided below. The Company hereby acknowledges that all valid bid instructions received pursuant to the Tender Offer will be accepted for purchase by the Company, subject to the satisfaction or waiver of the New Financing Conditions (as defined in the Tender Information Document). will be announced on. As announced in the internal announcement number. On April 14, 2024, the Company will have the right to voluntarily early redeem the Existing Debentures (2021/2025) and Existing Debentures (2022/2026) not tendered in the tender offer, subject to satisfaction or waiver. exercised. New Financing Terms (as defined in the Bid Information Document).
The Company further announced that it has successfully priced a new senior unsecured green bond (the “New Green Bond”) with a notional amount of EUR 375 million and a maturity of three years. The interest rate for the new green bond is 3-month EURIBOR (zero lower bound) plus a margin of 3.75%. The net proceeds of the new green bond will be used to finance or refinance eligible projects in accordance with our green finance framework dated October 2024, including the payment of the existing bond (2021/2025) and the purchase price of the existing bond. will be done. Redemption of bonds tendered in the Tender Offer (2022/2026) and existing bonds (2021/2025) and existing bonds (2022/2026) not tendered in the Tender Offer.
The purchase price for existing bonds (2021/2025) and existing bonds (2022/2026) is as follows, and in addition to this, the Company will pay an amount equal to the unpaid interest on the existing bonds. . (2021/2025) and Existing Bonds (2022/2026) (subject to applicable conditions of Existing Bonds (2021/2025) and Existing Bonds (2022/2026)):
Existing bond overview (2021/2025) / ISIN / Issue balance / Application amount / Acceptance amount / Purchase price
EUR 300,000,000 Senior Unsecured Green Bond due September 2025 / DK0030494505 / EUR 195,000,000 / EUR 114,437,100 / EUR 114,437,100 / 100.938%
Existing bond overview (2022/2026) / ISIN / Balance / Bid amount / Acceptance amount / Purchase price
€150,000,000 Senior Unsecured Green Bond Maturity September 2026 / DK0030511613 / €97,500,000 / €69,323,000 / €69,323,000 / 102.875%
Settlement of the tender offer and new green bond is scheduled to take place on November 4, 2024.
Settlement of transactions pursuant to the Tender Offer will be made through secondary channels through Danske Bank A/S, DNB Markets, parts of DNB Bank ASA, Swedish Branches, Nordea Bank Abp and Skandinaviska Enskilda Banken AB (publ) (each a “Dealer”). It is done as a transaction. Manager”), if applicable. All bid holders of Existing Bonds (2021/2025) and Existing Bonds (2022/2026) should immediately arrange trade reservations with their local sales representatives.
Joint Bookrunner and Dealer Manager
Danske Bank A/S; Email: Liabilitymanagement@danskebank.dk
DNB Market, part of DNB Bank ASA Swedish Branch. Email: Bond.syndicate@dnb.no
Nordea Bank Abp;Email: Nordealiabilitymanagement@nordea.com
Skandinaviska Enskilda Banken AB (Publisher); Email: liabilitymanagementdcm@seb.se
Please contact us for more information.
Email: investor.relations@europeanenergy.dk
https://europeanenergy.com/en/investor
Important notice
This announcement is for informational purposes only and does not constitute an offer to buy or sell any security. The securities referenced in this announcement may not be sold in the United States unless registered or exempt from registration under the United States Securities Act of 1933, as amended (the “Securities Act”). The securities mentioned in this announcement have not been and will not be registered under the Securities Act, and any offering or sale of such securities would constitute a transaction exempt from the registration requirements of the Securities Act. can only be done.
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This company announcement has been made in accordance with the Market Abuse Regulation (EU) No 596/2014 (the “Market Abuse Regulation”) and does not contain any information that may have constituted inside information under the Market Abuse Regulation prior to its disclosure. Included.
