ING Groep N : Heimstaden Bostad Successfully Prices EUR 800m in Hybrid Capital

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUER-TO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATIONS OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIB-UTE THIS PRESS RELEASE. THE DISTRIBUTION OF THIS PRESS RELEASE IN CER-TAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW.

Heimstaden Bostad AB today successfully priced an issuance of a EUR 800 million subordinated perpetual hybrid bond with an annual fixed rate coupon of 2.625% and a non-call period of 6.25 years. The issue attracted strong interest.

S&P will classify the hybrid as having intermediate equity content and has assigned a ꞌBB+ꞌ rating to the issue. The proceeds will be accounted for as 100% equity by Heimstaden Bostad according to IFRS and will be used for general corporate purposes, including new investments.

An application will be made for the bond to be listed on Euronext Dublin. The final listing particulars, once published, will be made available on Euronext Dublin and www.heimstadenbostad.com.

Danske Bank, Deutsche Bank, BNP Paribas, Morgan Stanley and ING Bank acted as Joint Structuring Agents and Joint Bookrunners for the issue.

For more information, contact:
Arve Regland, CFO
[phone]
[e-mail]

Adam Lindh, Head of Finance
[phone]
[e-mail]

About Heimstaden Bostad
Heimstaden Bostad is a leading residential real estate company in Europe, with a focus on acquiring, developing and managing housing and premises. Through our values Care, Dare and Share, we create value for our owners and friendly homes for our customers. Heimstaden Bostad has about 100,900 apartments and a property value of approximately SEK 139 billion. The head office is located in Malmö, Sweden. For more information, visit www.heimstadenbostad.com. 

This information is such that Heimstaden Bostad AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact persons, for publication on 26 January 2021 at 08:00 CET.
A rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time by the assigning rating organisation.

Access to this press release is granted on the condition that you have read, understood and accepted the following terms.

Access to this press release in member states of the European Economic Area (the "EEA") and in the United Kingdom (the "UK") is restricted to at persons who are "qualified investors" within the meaning of Regulation (EU) 2017/1129 (the "Prospectus Regulation"). In addition, in the United Kingdom, access to this press release is restricted to "qualified investors" who are (a) persons who have professional experience in matters relating to investments or (b) high net worth entities falling within Article 49(1) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on (i) in the UK, by persons who are not relevant persons, and (ii) in any member state of the EEA other than the UK, by persons who are not qualified investors. Any investment or investment activity to which this announcement relates is available only to relevant persons in the UK and qualified investors in any member state of the EEA other than the UK.  Each recipient also represents and agrees that it has complied and will comply with all applicable provisions of the Financial Services Markets Act 2000, as amended, with respect to anything done by it in relation to any Notes in, from or otherwise involving the UK. The securities described in this announcement are not being offered to the public in the UK or in the EEA.

PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The securities described in this announcement (the "Notes") are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA or in the UK. For these purposes, a "retail investor" means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU ("MiFID II"); or (ii) a customer within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. No key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA or in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA or in the UK may be unlawful under the PRIIPs Regulation.

MiFID II product governance/Professional investors and ECPs only target market - Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration the manufacturers' target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels.

Singapore Securities and Futures Act Product Classification - Solely for the purposes of its obligations pursuant to Sections 309B(1)(a) and 309B(1)(c) of the Securities and Futures Act (Chapter 289) of Singapore (as modified or amended from time to time, the "SFA"), Heimstaden Bostad AB (publ) has determined, and hereby notifies all relevant persons (as defined in Regulation 3(b) of the Securities and Futures (Capital Markets Products) Regulations 2018 (the "SF (CMP) Regulations") that the Capital Securities are "prescribed capital markets products" (as defined in the SF (CMP) Regulations).

The Notes have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or any relevant securities laws of any state or other jurisdiction and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. Accordingly, the Notes are being offered only outside the US to non-US persons in reliance on Regulation S under the Securities Act. There will be no public offer of the Notes in the United States.

This press release does not constitute an offer to sell or the solicitation of an offer to buy debt securities in the US or any other jurisdiction.

The distribution of this announcement and other information in connection with the offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

https://news.cision.com/heimstaden-bostad-ab/r/heimstaden-bostad-successfully-prices-eur-800m-in-hybrid-capital,c3273702

https://mb.cision.com/Main/17818/3273702/1363382.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English