New issue transaction 

SSAB AB (publ) has successfully issued senior unsecured bonds in the total amount of SEK1bn under its EUR2bn EMTN programme dated 10 May 2016. The bonds have a tenor of 5 years and a floating interest rate of STIBOR 3m + 340 bps. The transaction generated strong interest from investors and the issue was oversubscribed.

The proceeds will be used to finance the tender offer and for general corporate purposes.

- We are very pleased with the strong interest seen from investors. The fact that the bond was oversubscribed shows that there is both strong interest and trust in SSAB” says Håkan Folin, CFO of SSAB.

Tender offer 

Furthermore, SSAB announces the final results of its invitation to the holders of its outstanding SEK denominated floating and fixed rate bonds with ISIN SE0004950517 and SE0004950525 maturing 13 December 2017 (“December 2017 bonds”) and ISIN SE0005757523 and SE0005757515 maturing 25 February 2019 (“February 2019 bonds”) to tender the holdings for cash.

The Tender Offer expired at 17.00 CET on 29 March 2017. The aggregate principal amount of the validly tendered December 2017 bonds and February 2019 bonds was SEK 378.5m and SEK 832.2m respectively.

The New Issue Transaction has been successfully completed, and hence SSAB will accept all valid tender instructions pursuant to the Tender Offer in full.

Tender Prices

  • December 2017 FRN (ISIN SE0004950517)  – 102.20%
  • December 2017 FXD (ISIN SE0004950525)  – 103.50%
  • February   2019 FRN (ISIN SE0005757523)   – 101.90%
  • February   2019 FXD (ISIN SE0005757515)   – 105.70%

SSAB will pay accrued and unpaid interest from, but excluding the previous day of interest payment date until, and including the relevant settlement date. Settlement date for the Tender Offer is set to 5 April 2017.

Joint Bookrunners and Dealer Managers

Danske Bank
Contact person: Johan Hansen
Email: [email protected]
Telephone: +46 8 568 805 54

DNB
Contact person: Henrik Kansmark
Email: [email protected]
Telephone: +46 8 473 4816

SEB
Contact Person: Peter Swärd
Email: [email protected]
Telephone: +46 8 506 232 18

For more information, please contact:

Henrik G. Welch, Vice President, Head of Group Treasury
E-mail: [email protected]
Telephone: +46 70 2638399


Peter Nordquist, Head of Funding and Markets Operations
E-mail: [email protected]
Telephone: +46 8 454 5745

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in any other jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such invitation under applicable securities laws. The securities to which this announcement relates have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States or to US persons (as such term is defined in Regulation S under the Securities Act), except pursuant to registration or an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States. This communication is being distributed outside the United States solely to non-US persons as defined under Regulation S. This announcement is not being made, and this announcement has not been approved, by an authorised person for the purposes of Section 21 of the Financial Services and Markets Act 2000 (the "FSMA").

This announcement is not an invitation nor is it intended to be an inducement to engage in investment activity for the purpose of Section 21 of the FSMA. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. Rather, this announcement is being distributed on the basis it is only directed at: (i) persons who are outside the United Kingdom; (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) of the United Kingdom; or (iii) any other persons to whom this announcement for the purposes of Section 21 of FSMA can otherwise lawfully be made (all such persons together being referred to as "relevant persons"), and must not be acted on or relied upon by persons other than relevant persons. Any invitation or inducement to engage in any investment activity included within the announcement is available only to relevant persons and will be engaged in only with relevant persons. Anyone other than a relevant person must not rely on this announcement.