Creditas successfully prices new USD senior unsecured bonds and announces results from partial buy-back offer
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933) OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW
Creditas Financial Solutions, Ltd. (“Creditas”) has successfully priced senior unsecured callable fixed rate bonds of USD 60 million under a USD 150 million framework with a tenor of 3.5 years and ISIN: NO0013405753 (the “New Bonds”), and announces the results of the partial buy-back offer (the “Buy-Back”) to the holders of Creditas’s outstanding bonds of USD 40 million with maturity in 2026 (the “Existing Bonds”), which Creditas announced on 24 November 2024.
The New Bonds have a fixed rate coupon of 10.5 per cent. per annum and final maturity in 20 June 2028 and Creditas has accepted to buy back Existing Bonds in an aggregate amount of USD 22.5 million. The Buy-Back will be made at a purchase price of 106 per cent. of the nominal amount of the Existing Bonds (plus accrued and unpaid interest to the settlement date for the Buy-Back).
The proceeds from the New Bonds will be used to finance the Buy-Back and general corporate purposes. Settlement for the issue of the New Bonds and the Buy-Back is expected to occur on 20 December 2024.
Creditas intends to apply for admission to trading of the New Bonds on the corporate bond list of Nasdaq Stockholm.
Pareto Securities has acted as sole bookrunner in the transaction. White & Case has acted as legal advisor to Creditas and Gernandt & Danielsson has acted as legal advisor to Pareto Securities.
For further information, please contact:
Creditas:
Sergio Furio/ Erica Stols
CEO / VP of DCM and Treasury
E-mail: dcm@creditas.com
This press release contains information that Creditas Financial Solutions, Ltd. is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014/EU). The information was submitted for publication, through the agency of the contact person set out above, at 22:00 CET on 6 December 2024.
The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Creditas does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States.
This announcement is neither an offer to purchase nor the solicitation of an offer to sell any of the securities described herein (including the New Bonds), nor shall there be any offer or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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