- EUR 500 million, 6-year, fixed rate bonds with a coupon of 1.125% p.a. (1,253% reoffer yield)
- EUR 300 million, 10-year, fixed rate bonds with a coupon of 2.00% p.a. (2,119% reoffer yield)
"We are very satisfied to have completed such a successful placement. The strong interest confirms that Hydro is considered an attractive investment for bond investors. We are pleased to have achieved highly competitive terms", says CFO Eivind Kallevik.
As previously announced, the proceeds from the bond issues are intended for general corporate purposes, including refinancing of indebtedness.
An application has been made for the bonds to be listed on the Irish Stock Exchange (Euronext Dublin).
BNP Paribas, Citi, ING and Nordea are Joint Lead Managers for the transaction.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Relevant stabilisation regulations including FCA/ICMA will apply.
Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.
This announcement is directed only at persons (i) outside the United Kingdom; (ii) that have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); (iii) falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order or (iv) to whom this announcement may otherwise be directed without contravention of Section 21 of the Financial Services and Markets Act 2000 (all such persons together being referred to as “relevant persons”). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.
This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in any other jurisdiction where it is unlawful to do so. The securities to which this announcement relates have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or with any securities regulatory authority of any state of the United States or other jurisdiction and may not be offered, sold, pledged or otherwise transferred in the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the Securities Act), except pursuant to registration or an exemption from the registration requirements of the Securities Act and in compliance with any applicable state securities laws.
Published: April 04, 2019