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) (the “Issuer” or “Corem”) has mandated Nordea Bank Abp (“Nordea”), Skandinaviska Enskilda Banken AB (publ) (“SEB”) and Swedbank AB (publ) (“Swedbank”) as joint bookrunners to arrange investor meetings to investigate the possibility to issue new green SEK senior unsecured bonds with an expected tenor of three (3) years (the “New Green Bonds“). Subject to market conditions, a capital market transaction will follow.

In connection with the issue of the New Green Bonds, Corem is offering holders of (i) its outstanding senior unsecured green floating rate bonds maturing on 21 October 2024 with ISIN SE0017132681 and an outstanding amount of SEK 1,633,750,000¹ (the “Corem Bonds”) and (ii) its subsidiary Corem Kelly AB (publ)’s outstanding senior unsecured green floating rate bonds maturing on 10 February 2025 with ISIN SE0013104361 and an outstanding amount of SEK 2,247,500,000¹ (the “Kelly Bonds” and, together with the Corem Bonds, the “Existing Bonds”) to tender (subject to a transaction cap equal to the nominal amount of New Green Bonds issued) their Existing Bonds for purchase by the Issuer for cash (the “Tender Offer”) at a price of 100.20 per cent of the nominal amount for the Corem Bonds and 100.50 per cent. of the nominal amount for the Kelly Bonds. The Existing Bonds will be repurchased subject to the terms and conditions described in a tender information document dated 17 September 2024 (“Tender Information Document”).

The Tender Information Document can be found attached to this press release, and also via the following link:

https://www.corem.se/en/investor-relations/prospectus-shares-and-bonds-etc/

The Tender Offer expires at 12:00 CEST on 20 September 2024, unless extended, re-opened, withdrawn or terminated at the sole discretion of the Issuer. Settlement of the Tender Offer is expected to occur at or around 26 September 2024 and to the extent possible on the same day as the settlement of the New Green Bonds. The Issuer’s repurchase of the Existing Bonds is conditional upon a successful issue of the New Green Bonds.

Holders of Existing Bonds accepting the Tender Offer will be eligible to receive a priority in the allocation of the New Green Bonds and holders of Existing Bonds who subscribe and are allocated for New Green Bonds may accordingly receive priority in the Tender Offer, subject to the terms set out in the Tender Information Document.

The Issuer has mandated Nordea, SEB and Swedbank to act as dealer managers and joint bookrunners in connection with the issue of New Green Bonds and the Tender Offer and Walthon Advokater AB has acted as legal counsel to the Issuer.

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 information is information that Corem Property Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact persons above on 17 September 2024 at 08:00 CEST.

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

[1] Corem Property Group AB (publ) has previously repurchased, but not cancelled, bonds in an amount of SEK 716,250,000 in Corem Bonds and SEK 252,500,000 in Kelly Bonds, which are not included in the outstanding amount above.