OMV Aktiengesellschaft has decided to call and redeem the EUR 750 million hybrid notes issued by OMV in 2020 (ISIN XS2224439385) (NC6 Hybrid Notes). Furthermore, the Executive Board of OMV considers the issue of a new hybrid bond, in one or several tranches with a fixed or floating interest rate and an aggregate volume of up to EUR 750 million (New Hybrid Bond). The potential issue of the New Hybrid Bond requires the approval of the Supervisory Board of OMV.
In accordance with § 5 (3) of the terms and conditions of the NC6 Hybrid Notes, OMV has the right to call the NC6 Hybrid Notes with effect as of any business day during a 90 calendar days period up to and including September 1, 2026 (First Reset Date) and redeem each of them at its nominal value plus any interest accrued to but excluding the date of redemption but yet unpaid. Formal notice of redemption in accordance with the terms and conditions of the NC6 Hybrid Notes will be given separately. The redemption payment will be effected through the paying agents.
The potential issue of the New Hybrid Bond, the volume of the New Hybrid Bond in aggregate and per tranche as well as the number of tranches and call dates depend inter alia on the selection and combination with other financing instruments, given market conditions and the overall market sentiment (as well as the approval of the Supervisory Board of OMV, as stated above). The potential issue could take place within the next 18 months, in any event at the earliest in June 2026. The proceeds from the potential issue of the New Hybrid Bond would be used to ensure and strengthen OMV Group's continued liquidity, in particular, for upcoming re-financing requirements, financial flexibility as well as for general corporate purposes.
