Key Developments: Outokumpu Oyj (OUT1V.HE)

OUT1V.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Outokumpu issues EUR 250 mln bond
Friday, 19 Sep 2014 02:22am EDT 

Outokumpu Oyj:Says will issue 250 million euros bond.Says bond matures on Sept. 30, 2019 and it carries a fixed coupon interest rate of 6.625 percent per annum, payable semi-annually.Says the proceeds from issuance of bond will be used to refinance existing indebtedness, including redemption of bond maturing in June 2015.Says on or around issue date of new bond, Outokumpu will cancel its existing and currently undrawn 500 million euros liquidity facility by an amount equal to proceeds from new bond.  Full Article

Outokumpu considers new bond issue
Tuesday, 16 Sep 2014 04:00am EDT 

Outokumpu Oyj:Says considers the issuance of a new bond and announces a voluntary tender offer of its outstanding bond maturing in June 2015.Says the potential issue is expected to take place in the near future subject to market conditions.Says the target size of the issue is about 200 million euros.Says offer period begins on Sep. 16 and ends at 4.00 p.m. EET on Sep. 23.  Full Article

Outokumpu to appeal on EUR 20 mln claim
Monday, 8 Sep 2014 06:57pm EDT 

Outokumpu Oyj:Intends to appeal Spanish court's decision on claim related to divested copper business.Says Bilbao court has accepted claim of 20 million euros brought against Outokumpu and two other firms regarding divested copper business in Spain.  Full Article

Outokumpu Oyj gives Q3 2014 EBIT guidance
Thursday, 24 Jul 2014 02:00am EDT 

Outokumpu Oyj:Expects Q3 2014 sequentially slightly worse underlying EBIT primarily due to seasonal impact.  Full Article

Outokumpu Oyj reaches settlement in damages contribution claims pursuant to EU sanitary copper tube cartel decision
Monday, 14 Jul 2014 09:00am EDT 

Outokumpu Oyj:Says that on July 14 Outokumpu together with number of other companies have reached full and final settlement agreement on sanitary copper tube cartel claims.In 2012 Outokumpu was served with a damages contribution claim in the English court by IMI (IMI Plc and IMI Kynoch Ltd) and Boliden AB, after Boliden AB and IMI were served claims for financial loss by members of the Travis Perkins Group.These claims related to a 2004 ruling by the European Commission which concluded that a number of companies were involved in price fixing and market sharing in the sanitary copper tube sector in Europe between June 1988 and March 2001.Outokumpu considered the claim for damages in the English court proceedings to lack merit, but has decided to contribute to the settlement in order to bring this matter to an end.In addition to Outokumpu the settlement covers also all former Outokumpu subsidiaries included in the claims.The settlement amount is not significant, and it will be booked as a non-recurring item in the third quarter 2014 results.  Full Article

Outokumpu renews operational model
Wednesday, 18 Jun 2014 03:00am EDT 

Outokumpu Oyj:Announces changes in its operational model.As of Sep. 1, Outokumpu will consist of five business areas with sales, production, and profit responsibility: Coil EMEA, Coil Americas, APAC, Quarto Plate and Long Products.  Full Article

Outokumpu plans to outsource part of its IT services
Wednesday, 11 Jun 2014 10:30am EDT 

Outokumpu Oyj:Plans to outsource part of its IT services.Signed an agreement with Wipro regarding the development, maintenance and support of IT legacy applications.Approximately 90 employees globally are expected to transfer from Outokumpu IT to Wipro, initially continuing at their current locations with roles and tasks that remain largely unchanged.  Full Article

Outokumpu delivers 4,000 tonnes of stainless steel to Husab mine in Namibia
Wednesday, 14 May 2014 03:00am EDT 

Outokumpu Oyj:Delivers about 4,000 tonnes of LDX 2404 duplex stainless steel for the Husab uranium mine project in Namibia, Africa.The steel will be used in tanks, pressure vessels, clarifiers and columns.Deliveries have started and will continue until September.No financial details.  Full Article

Outokumpu still expects EBIT loss for Q1 2014
Monday, 14 Apr 2014 07:30am EDT 

Outokumpu Oyj:Reiterates forecast for the underlying EBIT in Q1 2014 to be sequentially better, but still negative.Q1 2014 EBIT negative 53.41 million euros-Thomson reuters I/B/E/S Estimates.  Full Article

Outokumpu announces final results of rights offering
Friday, 4 Apr 2014 05:00am EDT 

Outokumpu Oyj:Says the company's rights offering was oversubscribed by 23 percent.Raised net proceeds of about 640 million euros.Total number of shares in Outokumpu to increase to 10,386,615,824 shares.Danske Bank, Nordea and SEB acted as Joint Global Coordinators and Joint Bookrunners for the rights offering.BNP Paribas, Credit Agricole CIB, J.P. Morgan and Swedbank acted as Joint Bookrunners.  Full Article

New Issue- Outokumpu prices 250 mln Euro 2019 bond

Lead Manager(s) Nordea Bank, Pohjola Bank, Danske Bank, SEB & Swedbank

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