Teollisuuden Voima Oyj final tender results for Eurobond maturing in 2016
Teollisuuden Voima Oyj (the "Issuer") announces today the final results of its invitation to holders of its outstanding EUR 750,000,000 6.00 per cent. Notes due 27 June 2016 (ISIN: XS0435276224) (the "Notes") to tender their Notes for purchase by the Issuer for cash (the "Offer").
Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum dated 4 March 2014.
The Offer expired at 17.00 CET on 12 March 2014 (the "Expiration Deadline"). The Issuer hereby informs Noteholders that the aggregate principal amount of Notes validly offered for purchase by Noteholders was EUR 479,368,000.
The Issuer will accept valid Tender Instructions pursuant to the Offer up to a maximum aggregate principal amount of EUR 500,000,000 (the "Maximum Acceptance Amount"). Accordingly, the Issuer will accept for purchase all Notes validly tendered pursuant to the Offer with no pro rata factor.
The Issuer will accept an aggregate principal amount of Notes of EUR 479,368,000.
Pricing for the Offer took place at or around 12.00 CET today, 13 March 2014 (the "Pricing Time"). The cash purchase price the Issuer will pay for Notes validly tendered and accepted for purchase will be 111.724 per cent. of the principal amount of the relevant Notes.
A summary of the final pricing details is outlined below:
| Interpolated Mid-Swap Rate | Purchase Spread | Purchase Yield | Purchase Price | Accrued Interest |
| 0.508% | +28 bps | 0.788% | 111.724% | 4.323% |
Subject to satisfaction of the New Financing Condition, the settlement of the Offer is expected to take place on 17 March 2014
For further information, please contact:
Lauri Piekkari, Senior Vice President, Treasury, TVO, tel. +358 (0) 9 6180 6110.
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