Caverion and Manager Banks – Tender Offer for Hybrid Notes and Issue of EUR 75 Million Bond

We assisted Caverion and the lead managers Nordea and SEB, in a voluntary tender offer for Caverion’s EUR 100 million hybrid notes issued in 2017. The aggregate nominal amount of the repurchased hybrid notes was EUR 33.94 million.

At the same time, we assisted the company and the lead managers in the issue of a four-year EUR 75 million senior unsecured bond. The bond carries a fixed annual interest rate of 3.25% per annum and will be used for the partial redemption of the hybrid notes, for general corporate purposes, and for investments in accordance with Caverion’s strategy, including acquisitions. The bond was well received in the market and substantially oversubscribed. Caverion will apply for the listing of the bond on the official list of Nasdaq Helsinki Ltd.