Cramo Plc has issued an EUR 150 million unsecured bond. The bond matures on 28 February 2022 and carries a fixed annual interest rate of 2.375 per cent.
On 6 February 2020 Cramo Plc notified holders of its notes due 2022 of a Change of Control
Cramo Plc (“Cramo“) announced on 11 November 2019 that it has entered into a combination agreement with Boels Topholding B.V. (“Boels“) pursuant to which Boels commenced a recommended public cash tender offer for all of the issued and outstanding shares in Cramo (the “Tender Offer“) on 25 November 2019. Boels and Cramo announced on 5 February 2020 the final results of the Tender Offer as well as Boels’s intention to complete the Tender Offer.
Reference is made to Cramo’s EUR 150 million 2.375 per cent fixed-rate notes due 28 February 2022 (ISIN: FI4000232509). The completion of the Tender Offer today on 6 February 2020 constitutes a Change of Control pursuant to Condition 10 of the terms and conditions of the notes.
Cramo shall on 9 April 2020 prepay the principal amount of and the interest then accrued on the notes, but without any premium or penalty, held by the noteholders of the notes who have by written notice required prepayment of the notes held by them. The written notice should be primarily submitted by email to Nordea Bank Abp at email@example.com no later than on 19 March 2020 as instructed in Appendix 1 to this release. Alternatively, notice can be sent by mail to Cramo Plc (attn.: Aku Rumpunen), Kalliosolantie 2, FI-01740 Vantaa, Finland.
Interest on the notes prepayment of which has been required accrues until 9 April 2020 (excluding said date).
If notes representing more than seventy-five (75) per cent of the aggregate principal amount of the notes have been prepaid on 9 April 2020 pursuant to Condition 10 of the terms and conditions of the notes, Cramo is entitled to prepay also the remaining outstanding notes at their principal amount with accrued interest but without any premium or penalty.