Corem Property Group

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW.

Corem Property Group AB (publ) ("Corem" or the "Company") announces the result of the voluntary tender offer that Corem announced on 17 September 2024 (the "Tender Offer") to holders of (i) its outstanding senior unsecured green floating rate bonds maturing on 21 October 2024 with ISIN SE0017132681 (the "Corem Bonds") and (ii) its subsidiary Corem Kelly AB (publ)’s outstanding senior unsecured green floating rate bonds maturing on 10 January 2025 with ISIN SE0013104361 (the “Kelly Bonds” and, together with the Corem Bonds, the “Outstanding Bonds”).

The Tender Offer expired at 12:00 CEST on 20 September 2024 and was made in accordance with the terms and conditions set out in the tender information document dated 17 September 2024 (the "Tender Information Document").

Corem has received tenders of a total nominal amount of SEK 1,023.75 million for the Corem Bonds and SEK 1,083.75 million for the Kelly Bonds. Corem has accepted all valid tenders of the Corem Bonds amounting to SEK 1,023.75 million and valid tenders of the Kelly Bonds amounting to SEK 436.25 million. Valid tenders of the Kelly Bonds from investors who have subscribed for and been allocated New Green Bonds in an amount of SEK 436.25 million have been prioritised in acceptance by Corem (“Priority Tenders”). Valid tenders of the Kelly Bonds not being Priority Tenders have not been accepted. Following the completion of the Tender Offer the volume of the outstanding bonds excluding Corem’s holdings will amount to SEK 610.00 million Corem Bonds and SEK 1,811.25 million Kelly Bonds. The Company intends to complete the Tender Offer, with the price set at 100.20 per cent of the nominal amount plus accrued but unpaid interest for the Corem Bonds and 100.50 per cent of the nominal amount plus accrued but unpaid interest for the Kelly Bonds. Settlement for the Tender Offer is expected to occur on or about 26 September 2024. The Outstanding Bonds will be repurchased subject to the terms and conditions described in the Tender Information Document.

For more information about the Tender Offer, please contact the Dealer Managers.

Dealer Managers

Nordea: NordeaLiabilityManagement@nordea.com

Swedbank: liabilitymanagement@swedbank.se

SEB: bondsyndicate@seb.se

Corem Property Group AB (publ)

For further information, please contact

Rutger Arnhult, CEO, +46 70 458 24 70, rutger.arnhult@corem.se
Eva Landén, deputy CEO, +46 10 482 76 50, eva.landen@corem.se
 

Corem Property Group AB (publ)
Box 56085, SE-102 17 Stockholm
Visit: Riddargatan 13 C
Corp ID no: 556463-9440

www.corem.se

This is a translation of the original Swedish language press release. In the event of discrepancies, the original Swedish wording shall prevail.