Jotul AS to redeem its outstanding up to NOK 750,000,000 senior secured floating rate bonds with ISIN NO0011104069
Jøtul AS hereby announces that its up to NOK 750,000,000 senior secured floating rate bonds with ISIN NO0011104069 (the “Bonds“) will be redeemed in advance in accordance with Clause 9.3 (Voluntary total redemption (call option)) of the terms and conditions of the Bonds.
The redemption date will be 24 January 2024. The redemption amount for each Bond shall be 102.085 per cent. of the nominal amount, plus accrued but unpaid interest up to, but excluding, the applicable redemption date. The redemption amount will be paid to the bondholders holding Bonds on the applicable record date (being 22 January 2024).
Jøtul AS’s obligation to redeem the Bonds on the redemption date is conditional upon the successful issue prior to the applicable record date of Jøtul AS’s senior secured floating rate bond issue in an initial amount of up to NOK 510,000,000 (the “New Bonds“) and Jøtul AS fulfilling the conditions precedent for disbursement of the net proceeds from the issue of the New Bonds, which are, among other things, to be applied towards (i) refinancing existing debt (including accrued and unpaid interest), and (ii) financing general corporate purposes.
Subject to the above, the Bonds will be de-listed from the corporate bond list of Oslo Børs in connection with the redemption date.
For further information, please contact:
Jøtul AS
Adrian Postolache
Group CFO
Tel: +47 458 79 680
E-mail: adrian.postolache@jotul.no
This is information which Jøtul AS is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out below, at 21:00 CET on 21 December 2023.
Jøtul is one of the world’s oldest producers of stoves, inserts and fireplaces. Building on a proud Norwegian heritage, Jøtul combines fine craftsmanship with the art of coping with the cold for 170 years. Jøtul is headquartered in Fredrikstad, Norway and features five prominent brands Jøtul, Scan, Ild, Ravelli and Atra, and proudly sells to 45 countries around the world.
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