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PA Resources AB To Offer Bond Loan Of Up To SEK 1,000 Million


Friday, 13 Sep 2013 02:00am EDT 

PA Resources AB announced that its Board has decided to offer institutional investors and general public in Sweden, including bond holders under PA Resources’ current bond loan 2010/2013, to subscribe for bonds under a new bond loan 2013/2016. The maximum frame work amount of the bond loan is SEK 1,000 million, whereof approximately SEK 750 million are intended to be issued during the application period between September 16, 2013 and September 27, 2013. The bonds are issued at a nominal amount of SEK 10,000 per bond and annual interest is expected to be set at a range of between 11.50% and 13.50%. The minimum subscription in the offer to the general public in Sweden is SEK 10,000, equivalent to one bond, and thereafter in multiples of SEK 10,000. The minimum subscription in institutional offer is SEK 1 million, equivalent to 100 bonds, and thereafter in multiples of SEK 10,000. If payment is made with bonds under PA Resources’ current bond loan 2010/2013, each bond with a nominal amount of SEK 10,000 under bond loan 2010/2013 gives right to one bond with nominal amount of SEK 10,000 under bond loan 2013/2016. Two institutional investors agreed to subscribe and pay for bonds corresponding to nominal amount of approximately SEK 425 million, provided bonds corresponding to a total amount of SEK 750 million are issued. The Offer is underwritten to approximately 57%. Carnegie is financial advisor. Gernandt & Danielsson Advokatbyra KB is legal advisor to PA Resources and Carnegie. 

Company Quote

1.25
0.02 +1.63%
18 Dec 2014