B2Holding ASA (the “Company”) is contemplating a buy-back of up to EUR 75 million of the nominal outstanding amount of B2H01 with ISIN NO 0010753072 maturing on 8 December 2020.
The buy-back will be conducted as a "reverse Dutch auction", where B2Holding ASA, through the Manager, will receive offers for desired volume at desired price for sale from the bondholders on a confidential basis.
All bondholders (subject to legal constraints, if any) are hereby invited and are eligible to provide offers for sale of all or a portion of their bonds through submission of the attached bondholders offer form (the “Bondholders Offer Form”).
Due date for submission is 16:00 CET 20 March 2020. Prior to 09:00 CET 23 March 2020, B2Holding ASA will decide upon an eventual buy-back price (the “Buy-Back Price”) and consequently the total amount of B2H01 bonds to be purchased (if any). All bondholders with offers equaling the Buy-Back Price or lower will receive the Buy-Back Price on amounts offered within the price range. Cash settlement including accrued interests is set to 24 March 2020.
Nordea Bank Apb, filial i Norge (“Nordea”) is acting as Manager for the buy-back.
All submissions of Bondholders Offer Form are to be sent by e-mail to Nordea through the respective sales persons or directly to Kristoffer Johansen by e-mail: k.johansen@nordea.com no later than 16:00 CET 20 March 2020.
Attachment: Bondholders Offer Form
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
B2Holding Corporate Update in connection with the contemplated bond buy-back
As disclosed in the Q4 presentation on February 28, B2Holding had a liquidity reserve per year end 2019 of EUR 234 million. The current liquidity reserve per mid-March is at the same level, and the financial position of B2Holding is solid. As a result of the ongoing COVID-19 pandemic, B2Holding has followed all precautionary measures imposed by the authorities in the countries where the Company has presence, and most of our entities have transformed all functions to remote offices to ensure business continuity. The macroeconomic effects of the current crisis are not possible to foresee as of today, and as a result the Company will reduce portfolio purchases to a minimum in order to preserve liquidity
For further information, please contact:
Erik J. Johnsen
CEO, B2Holding ASA
Mobile: +47 415 77 055
E-mail: ejj@b2holding.no
or
Rasmus Hansson
Head of M&A and Investor Relations, B2Holding ASA
Mobile: +47 952 55 842
E-mail: rh@b2holding.no
Attachments:
B2Holding ASA - Bondholders Offer Form for B2H01 - 19 March 2020
