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Stillfront Group AB (publ) (”Stillfront”) has successfully issued senior unsecured bonds (the “New Bonds”) in an amount of SEK 1,000,000,000 and announces the results of the tender offer (the “Tender Offer”) to the holders of Stillfront’s outstanding senior unsecured floating rate bonds with ISIN SE0020846624 maturing in 2027 and with an outstanding amount of SEK 1,000,000,000 (the “Outstanding Bonds”), announced by press release on 24 March 2026. The Tender Offer expired at 12:00 CET on 27 March 2026. Outstanding Bonds in an aggregate amount of SEK 568,750,000 have been validly tendered and accepted by Stillfront.
The New Bonds were issued under a total framework of SEK 2,000,000,000, carries a floating interest rate of 3m Stibor + 500 basis points and will mature on 7 April 2030. Stillfront intends to apply for admission to trading of the New Bonds on the corporate bond list of Nasdaq Stockholm.
Stillfront will complete the Tender Offer at the communicated price of 101.3825 per cent of the nominal amount per Outstanding Bond repurchased. Stillfront will also pay accrued and unpaid interest from, but excluding, the previous interest payment date until, and including, the settlement date for the Tender Offer. Settlement for the Tender Offer is expected to occur on 7 April 2026. Stillfront’s repurchase of the Outstanding Bonds is conditional upon Stillfront receiving the proceeds from the issue of the New Bonds.
The proceeds from the contemplated issue will be used to refinance the Outstanding Bonds, as well as to finance general corporate purposes.
Stillfront further announces that it exercises its right to make a voluntary early redemption of the Outstanding Bonds which have not been repurchased through the Tender Offer (the “Early Redemption”). The Early Redemption is conditional upon the disbursement of the net proceeds from the issuance of the New Bonds and the settlement of the Outstanding Bonds repurchased pursuant to the Tender Offer. The Outstanding Bonds will be redeemed at a call option price of 101.3825 per cent of the nominal amount of such Outstanding Bonds plus accrued and unpaid interest from, but excluding, the previous interest payment date until, and including, the settlement date of the Early Redemption, which is expected to occur on 27 April 2026. The redemption amount will be paid to each person who is registered as owner of Outstanding Bonds as of the record date, being 20 April 2026, in the debt register maintained by Euroclear Sweden. In connection with the early redemption, the Outstanding Bonds will be delisted from the corporate bond list of Nasdaq Stockholm. A notice of the early redemption will be sent to directly registered owners of the Outstanding Bonds in the debt register as of 27 March 2026.
DNB Carnegie Investment Bank AB, Nordea Bank Abp and SB1 Markets, filial i Sverige have acted as joint bookrunners and arrangers in conjunction with the issuance of the New Bonds and dealer managers in relation to the Tender Offer. Mannheimer Swartling has acted as legal advisor.
