Sponda completes the partial repurchase for its hybrid bond (ISIN: FI0003029181) issued in 2008. Sponda has agreed to repurchase a nominal amount of 37,200,000 in exchange for cash which represents 28.6% of the original 130 million notional amount issued in 2008.
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 102% for the nominal amount plus the accrued interest until the settlement date December 5, 2012.
After completing this tender offer, Sponda will have two hybrid bonds outstanding. The first one, issued in 2008, amounts post-repurchase to 92,800,000 million and is callable on June 27, 2013. The new hybrid bond, announced on November 21, 2012, will amount to 95 million, and the first call date is December 5, 2017.
Nordea Markets acts as a dealer manager and as a tender agent for the transaction.
Source: Sponda Plc
