Ålandsbanken Abp
Inside Information
Ålandsbanken Abp announces a consent solicitation for its up to
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY PERSON LOCATED OR RESIDENT IN OR INTO
Ålandsbanken Abp (“Ålandsbanken”) announces a consent solicitation for its outstanding up to
Ålandsbanken commences a consent solicitation process and initiates the procedure in writing (the “Procedure in Writing”) for the noteholders to vote for or against the Proposal to amend the terms and conditions of the Notes by adding a call option according to which Ålandsbanken may redeem all, but not some only, of the outstanding Notes in full any time prior to the final maturity date at an amount equal to 100.800 per cent. of the nominal amount together with accrued but unpaid interest. Nordea Bank Abp (the "Tabulation Agent") is acting as the tabulation agent and solicitation agent in connection with this Procedure in Writing.
As compensation for the noteholders voting by
The payment of the Consent Fee is subject to (i) the Proposal being approved by a requisite majority of the noteholders participating in the Procedure in Writing and (ii) early redemption of the Notes by Ålandsbanken pursuant to the call option as set out in the terms and conditions of the consent solicitation.
For the avoidance of doubt, Ålandsbanken has no obligation to exercise the call option and it is in its sole discretion even if the Proposal has been approved.
Subject to satisfaction of certain requirements as set out in the terms and conditions of the consent solicitation, noteholders voting in favour of the Proposal no later than the Early Deadline are eligible to receive priority in the allocation of any new bonds under the New Covered Bond, subject to the terms and conditions of the New Covered Bond.
Noteholders shall return, as applicable, the voting form, as set out in Schedule 1 of the notice of Procedure in Writing (the “Notice of Procedure in Writing”) annexed hereto, and, the power of attorney/authorisation set out in Schedule 2 of the Notice of Procedure in Writing annexed hereto or other sufficient evidence, if the Notes are held in custody other than by
To be eligible to participate in the Procedure in Writing and receive the priority allocation of any new bonds under the New Covered Bonds and/or the Consent Fee a person must meet the criteria for being a noteholder on
The results of the Procedure in Writing will be published on the website of Ålandsbanken on
The details of the terms and conditions of the consent solicitation are set out in the Notice of Procedure in Writing, which will be made available to noteholders and may be requested from Nordea Bank Abp as Tabulation Agent.
Tabulation Agent, Nordea Bank Abp, e-mail: Nordealiabilitymanagement@nordea.com,
Attention: Nordea Liability Management, tel. +45 6161 2996.
ÅLANDSBANKEN ABP
Head of Group Treasury
e-mail: maria.rissanen@alandsbanken.fi
tel. +358 204 293 683
Legal Counsel
e-mail: paivi.a.kuitunen@alandsbanken.fi
tel. +358 204 293 630
Important Notice
In respect of the consent solicitation process, this announcement must be read in conjunction with the Notice of Procedure in Writing If any noteholder is in any doubt as to the contents of this stock exchange release, the information contained in the Notice of Procedure in Writing or the action it should take, such noteholder should seek its own financial and legal advice, including in respect of any tax consequences, immediately from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser.
Neither this announcement nor the Notice of Procedure in Writing constitutes an invitation to participate in the consent solicitation in any jurisdiction in which, or to any person to or from whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws.
In a number of jurisdictions, in particular in
The consent solicitation is only being made outside
The information herein may contain forward-looking statements. All statements other than statements of historical facts included in the information are forward-looking statements. Forward-looking statements give Ålandsbanken’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “expect”, “aim”, “intend”, “may”, “plan”, “would”, “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Ålandsbanken’s control that could cause Ålandsbanken’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Ålandsbanken’s present and future business strategies and the environment in which it will operate in the future.
DISTRIBUTION
Nasdaq
Major media
www.alandsbanken.com
ANNEX
NOTICE OF PROCEDURE IN WRITING
Attachment
- Alandsbanken-Abp-Notice-of-Procedure-in-Writing-
17-August-2021
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