Klarna Bank AB (publ) announces tender offer regarding certain outstanding senior unsecured bonds
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW
Stockholm, Sweden - March 30, 2021 Klarna Bank AB (publ) (“Klarna”) is offering holders of Klarna’s outstanding bonds outlined below (the “Bonds”) to tender any and all of their Bonds for purchase by Klarna for cash (the “Tender Offer”) at the purchase price set out below, plus accrued and unpaid interest. The Bonds will be repurchased subject to the terms and conditions described in a tender information document dated 30 March 2021 (the “Tender Information Document”).
Description of the Bonds: 2019/2021 Sr Unsec FRN
Issued Amount: SEK 1000m
Outstanding Amount: SEK 764m
Minimum Denomination amount: SEK 2,000,000
Purchase Price: The Purchase Price for each day that the Tender Offer is in force will be determined around 9.00 a.m. (CET) on each day and communicated to holders by the Dealer Managers thereafter. The Purchase Price is calculated based on the Discount Margin plus 0.45% of the nominal amount of each Bond. All calculations in respect of determining the Purchase Price will be done using Bloomberg’s automatic forward curves on the “YAS” function. The Purchase Price for Day 1 (30 March 2021) has been calculated and is 100.126%. For the avoidance of doubt, the Purchase Price determined on each day will be valid for all repurchases made during that relevant day and that day only.
The full terms and conditions of the Tender Offer can be found in the Tender Information Document, which is available in this link.
The Tender Offer expires at 16:00 (CET) on 6 April 2021 (the “Expiration Date”), unless extended, re-opened, withdrawn or terminated at the sole discretion of Klarna. Settlement of the Tender Offer is expected to occur at a running basis with settlement two business days from the date of receipt of a valid tender application form from a holder of Bonds. The Issuer will announce final results of the Tender Offer as soon as practically possible following the Expiration Date.
Klarna has mandated Nordea Bank Abp, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) as dealer managers and tender agents for the Tender Offer.
Attachment: The Tender Information Document.
Dealer Managers and Tender Agents:
Nordea Bank Abp: +45 6161 2996, NordeaLiabilityManagement@nordea.com
Skandinaviska Enskilda Banken AB (publ): +46 (0)8 506 23061, BondSyndicate@seb.se
Swedbank AB (publ): +46 (0)8 700 90 22, Syndicate@swedbank.se
For further information, please contact Klarna at:
Aoife Houlihan, VP of Communications
Phone: +46 (0) 72855 8047
Email: email@example.com / firstname.lastname@example.org
This information is information that Klarna is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09.00 CET on 30 March 2021.