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Fastator announces anticipated mandatory repurchase offer under its outstanding bond loans

11:45 / 30 June 2021 Fastator Press release

Reference is made to Aktiebolaget Fastator’s (publ) (“Fastator” or the “Issuer”) SEK 500,000,000 senior unsecured floating rate bonds 2020/2023 with ISIN SE0014855276 (the “Bonds 2020/2023”) and maximum SEK 700,000,000 senior unsecured floating rate bonds 2020/2024 with ISIN SE0014855284 (the “Bonds 2020/2024” and together with the Bonds 2020/2023 the “Bond Loans”) and the terms and conditions for the Bond Loans (the “Terms and Conditions”). Any capitalised term in this press release not otherwise defined herein shall have the same meaning ascribed to it in the Terms and Conditions.

As announced by Fastator on 18 December 2020, an agreement was entered into by Fastator, Nordact AB, Offentliga Nordic Property Holding SARL and CLBRM Private S.A., SICAR on behalf of its Compartment Real Assets relating to the sale of 138,917,953 shares in total corresponding to 54.3 per cent. of the total shares and votes in Offentliga Hus i Norden AB (publ) (“Offentliga Hus”) to Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) (the “Sale”). The aggregate consideration payable to the Group was SEK 1,039,806,121, whereof SEK 678,294,823 was paid in cash (the “Cash Consideration”) and SEK 361,511,298 was paid in kind with shares in SBB (the “Payment in Kind Shares”).

In January 2021, Fastator made a mandatory repurchase offer for an aggregate nominal amount of up to SEK 195,000,000 for part of the Cash Consideration in accordance with the Terms and Conditions, which was accepted by Bondholders representing Bonds with an aggregate nominal amount of SEK 12,500,000.

Fastator has now divested part of the Payment in Kind Shares for an aggregate amount of SEK 201,061,071 (the “Offentliga Hus Cash Disposal Proceeds”). Hence, the Issuer shall by notice to the Bondholders offer to repurchase the Bonds 2020/2023 and the Bonds 2020/2024 pro rata in an aggregate amount equal to the Offentliga Hus Cash Disposal Proceeds, at a price per Bond equal to 101.0 per cent. of the Nominal Amount plus accrued and unpaid interest in accordance with Clause 12.2 under the Terms and Conditions (the “Mandatory Repurchase Offer”), which means that the Issuer will offer to repurchase Bonds in an aggregate nominal amount of up to SEK 101,250,000 under each Bond Loan, which the Bondholders under the Bond Loans will have the right, but not be obliged, to accept. If the Mandatory Repurchase Offer is over-subscribed, the repurchase shall be allocated between Bonds accepted for repurchase by each Bondholder in the Mandatory Repurchase Offer in proportion to the total number of Bonds accepted to be repurchased in the Mandatory Repurchase Offer.

The Mandatory Repurchase Offer will be made by the Issuer giving not less than 10 Business Days’ notice to the Bondholders and the Agent. No later than 5 August 2021, the Issuer expects to send a notice of the Mandatory Repurchase Offer, which will include the relevant Business Day on which the repurchase shall be made, the repurchase price and the relevant Record Date as well as the the relevant necessary instructions regarding the actions that a Bondholder needs to take if it wishes Bonds held by it to be repurchased in accordance with the Terms and Conditions.

For more information, please contact:
Knut Pousette, CEO Fastator
+46 (0) 70 733 80 00

Svante Bengtsson, Deputy CEO Fastator
+46 (0) 70 956 67 56

Christoffer Strömbäck, CFO Fastator
+46 (0) 70 249 72 55

About AB Fastator (publ)
Aktiebolaget Fastator (publ) is an investment company specializing in the real estate sector. Fastator's business model is to found and invest in property-related companies where the Company through active ownership contributes to long-term value creation. Fastator's share has been traded on the Nasdaq First North Growth Market since 24 September, 2015. The company's Certified Adviser is Erik Penser Bank AB (publ), tel. + 46 8 463 80 00,

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