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    SAMPO   FI0009003305

SAMPO OYJ

(SAMPO)
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Sampo Oyj Sampo Plc Announces Final Results Of Its Cash Tender Offers

12/01/2020 | 11:01am EDT
TIDMSAMPO 
 
 
   NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR TO ANY 
PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND 
POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, 
AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE 
OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR IN OR INTO ANY OTHER 
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT 
 
   SAMPO PLC                        STOCK EXCHANGE RELEASE 
1 December 2020 5:45 pm 
 
   Sampo plc announces final results of its cash tender offers in respect 
of its outstanding EUR 500,000,000 1.50 per cent. Notes due 16 September 
2021, SEK 700,000,000 0.875 per cent. Notes due 23 May 2022, SEK 
1,300,000,000 Floating Rate Notes due 23 May 2022, EUR 750,000,000 1.00 
per cent. Notes due 18 September 2023 and EUR 500,000,000 1.250 per 
cent. Notes due 30 May 2025 
 
   This announcement is released by Sampo plc and contains inside 
information for the purposes of Article 7 of the Market Abuse Regulation 
(EU) 596/2014 ("MAR"), encompassing information relating to the 2021 
Notes, 2022 Fixed Rate Notes, 2022 Floating Rate Notes, 2023 Notes and 
2025 Notes described above (each as defined below). For the purposes of 
MAR and Article 2 of the Commission Implementing Regulation (EU) 
2016/1055, this announcement is made by Jarmo Salonen, the Head of 
Investor Relations and Group Communications of Sampo plc. 
 
   Sampo plc (the "Issuer") today announces the final results of its 
invitations to holders of its outstanding EUR 500,000,000 1.50 per cent. 
Notes due 16 September 2021 (ISIN: XS1110299036) (the "2021 Notes"), SEK 
700,000,000 0.875 per cent. Notes due 23 May 2022 (ISIN: XS1823483414) 
(the "2022 Fixed Rate Notes"), SEK 1,300,000,000 Floating Rate Notes due 
23 May 2022 (ISIN: XS1823484222) (the "2022 Floating Rate Notes"), EUR 
750,000,000 1.00 per cent. Notes due 18 September 2023 (ISIN: 
XS1520733301) (the "2023 Notes") and EUR 500,000,000 1.250 per cent. 
Notes due 30 May 2025 (ISIN: XS1622193750) (the "2025 Notes") (together, 
the "Securities" and each series of Securities, a "Series") to (i) 
tender any and all of their 2023 Notes and (ii) to tender their 2021 
Notes, 2022 Fixed Rate Notes, 2022 Floating Rate Notes and 2025 Notes up 
to (subject as set out herein and allocated in the Issuer's sole 
discretion) an aggregate principal amount of the Euro Equivalent of EUR 
750,000,000 less the aggregate principal amount of the 2023 Notes 
validly tendered and accepted for purchase, in each case for purchase by 
the Issuer for cash. 
 
   Such invitations (the "Tender Offers") were announced on 23 November 
2020 and were made on the terms and subject to the conditions contained 
in the tender offer memorandum dated 23 November 2020 (the "Tender Offer 
Memorandum") prepared by the Issuer. Capitalised terms used and not 
otherwise defined in this announcement have the meanings given thereto 
in the Tender Offer Memorandum. 
 
   Final Acceptance Amount and Pricing Information 
 
   As at the Expiration Time, being 5.00 pm Central European time on 30 
November 2020, the Issuer had received valid tenders for purchase 
pursuant to the Tender Offers of: (i) EUR 139,609,000 of the 2021 Notes; 
(ii) SEK 582,000,000 of the 2022 Fixed Rate Notes; (iii) SEK 
1,050,000,000 of the 2022 Floating Rate Notes; (iv) EUR 228,448,000 of 
the 2023 Notes; and (v) EUR 127,161,000 of the 2025 Notes. 
 
   The Issuer has decided to set the Final Acceptance Amount at EUR 
654,974,480 (using the Applicable SEK/EUR Exchange Rate at SEK 1 = EUR 
0.09789, where applicable). Pricing for the Tender Offers took place at 
or around 2.00 pm Central European time today. 
 
   A summary of the final results of, and pricing for, each Series of 
Securities appears below: 
 
   Any and all Securities 
 
 
 
 
                                      EUR 750,000,000 1.00 per cent. 
Description of the Securities           Notes due 18 September 2023 
------------------------------------  ------------------------------ 
ISIN                                           XS1520733301 
------------------------------------  ------------------------------ 
Principal Amounts of the Securities 
 Accepted for Purchase                               EUR 228,448,000 
------------------------------------  ------------------------------ 
Tender Price                                                104.087% 
------------------------------------  ------------------------------ 
Accrued Interest                                              0.205% 
------------------------------------  ------------------------------ 
Benchmark Rate                                                   N/A 
------------------------------------  ------------------------------ 
Fixed Purchase Spread                                            N/A 
------------------------------------  ------------------------------ 
Fixed Purchase Yield                                         -0.450% 
------------------------------------  ------------------------------ 
Scaling Factor                        N/A 
------------------------------------  ------------------------------ 
 
 
 
   Capped Tender Offer Securities 
 
 
 
 
                                                                           EUR 500,000,000 
                     EUR 500,000,000  SEK 700,000,000   SEK 1,300,000,000     1.250 per 
                      1.50 per cent.   0.875 per cent.    Floating Rate      cent. Notes 
Description            Notes due 16     Notes due 23       Notes due 23       due 30 May 
 of the Securities    September 2021      May 2022           May 2022            2025 
-------------------  ---------------  ----------------  -----------------  --------------- 
ISIN                  XS1110299036      XS1823483414      XS1823484222      XS1622193750 
-------------------  ---------------  ----------------  -----------------  --------------- 
Principal Amounts 
 of the Securities 
 Accepted for 
 Purchase            EUR 139,609,000   SEK 582,000,000  SEK 1,050,000,000  EUR 127,161,000 
-------------------  ---------------  ----------------  -----------------  --------------- 
Tender Price                101.586%          101.365%           101.073%         106.773% 
-------------------  ---------------  ----------------  -----------------  --------------- 
Accrued Interest              0.316%            0.459%             0.017%           0.637% 
-------------------  ---------------  ----------------  -----------------  --------------- 
                                                                              Interpolated 
                                                                             Mid-Swap Rate 
Benchmark Rate                   N/A               N/A                N/A       of -0.482% 
-------------------  ---------------  ----------------  -----------------  --------------- 
Fixed Purchase 
 Spread                          N/A               N/A                N/A           15 bps 
-------------------  ---------------  ----------------  -----------------  --------------- 
Fixed Purchase 
 Yield                       -0.500%           -0.050%                N/A          -0.332% 
-------------------  ---------------  ----------------  -----------------  --------------- 
Scaling Factor       N/A              N/A               N/A                N/A 
-------------------  ---------------  ----------------  -----------------  --------------- 
 
 
   General 
 
   The Settlement Date in respect of the Securities accepted for purchase 
pursuant to the Tender Offers is expected to be 2 December 2020. 
 
   Following settlement of the Tender Offers, (i) EUR 360,391,000 of the 
2021 Notes; (ii) SEK 118,000,000 of the 2022 Fixed Rate Notes; (iii) SEK 
250,000,000 of the 2022 Floating Rate Notes; (iv) EUR 521,552,000 of the 
2023 Notes; and (v) EUR 372,839,000 of the 2025 Notes will remain 
outstanding. 
 
   The Issuer will also pay an Accrued Interest Payment in respect of 
Securities purchased pursuant to the Tender Offers as set out in the 
table above. 
 
   Contact information 
 
   Dealer Managers for the Tender Offers: 
 
   Citigroup Global Markets Limited 
 
   Telephone: +44 20 7986 8969 
 
   Attention: Liability Management Group 
 
   Email: 
https://www.globenewswire.com/Tracker?data=606Uw2-ivVmuXIFMI2FxA-li0a-UgE1fnsfxrZJSuPPZzc7SXpWCfPzqy00sVsZbK7oYvQK4wdHffYD_GXV2mLT3V7d4lALuMqYdpK82yh-o0NPhczDerrxGABHos9ARPN5wHnUkDDETd3hha-mRyQ== 
liabilitymanagement.europe@citi.com 
 
   Nordea Bank Abp 
 
   Telephone: +45 61612996 
 
   Attention: Nordea Liability Management 
 
   Email: 
https://www.globenewswire.com/Tracker?data=YfcCjLqIfHQu1wj4oCniy5AGVbCnu2lDjEc3dXhCAgj4ROp96etxs6PYiqIM9wRqc79qzBVsiPTptsYygc-3CjH3pLFbprpSel7eBC7tua6FkaPytl20mg0LNDtu7ps13JGs9_dtKNRHT_Hk7pF7AA== 
nordealiabilitymanagement@nordea.com 
 
   Tender Agent for the Tender Offers: 
 
   Lucid Issuer Services Limited 
 
   Telephone: +44 20 7704 0880 
 
   Attention: Paul Kamminga 
 
   Email: 
https://www.globenewswire.com/Tracker?data=vyGUV8lkFFZQz75yV9XGeaeq__vr2w-l-dmKu6IA4qA_CTz9qQ89qh1gmuMsXXGdDYa4uYDLSkcd87WgoO0PO2ZYadxvdRaEc8iCY84xy5I= 
sampo@lucid-is.com 
 
   Issuer: 
 
   SAMPO PLC 
 
   Jarmo Salonen 
 
   Head of Investor Relations and Group Communications 
 
   Telephone: +358 10 516 0030 
 
   Email: 
https://www.globenewswire.com/Tracker?data=VV2nDKNC1jUibUzUzENGlGL_SAwYeKZaeXHRIdvxeJ6wffKT9XgPyPZ9hwvy-I_LElq_qWDWCDy5CRJRYoYiDYOm4hmDG7nq5gov_1V-ruM= 
jarmo.salonen@sampo.fi 
 
 
 
   DISCLAIMER: 
 
   The offer period for the Offers has now expired. No further tenders of 
any Securities may be made pursuant to the Tender Offers. This 
announcement must be read in conjunction with the Tender Offer 
Memorandum. No offer or invitation to acquire any securities is being 
made pursuant to this announcement.  The distribution of this 
announcement and the Tender Offer Memorandum in certain jurisdictions 
may be restricted by law.  Persons into whose possession this 
announcement and/or the Tender Offer Memorandum comes are required by 

(MORE TO FOLLOW) Dow Jones Newswires

12-01-20 1100ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.26% 0.62519 Delayed Quote.-1.08%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.22% 0.674928 Delayed Quote.4.44%
CITIGROUP INC. -0.52% 68.52 Delayed Quote.11.13%
EURO / SWEDISH KRONA (EUR/SEK) 0.07% 10.1952 Delayed Quote.1.60%
NORDEA BANK ABP 0.52% 103.46 Delayed Quote.53.11%
SAMPO CORPORATION 0.33% 30.8 End-of-day quote.18.23%
SAMPO OYJ 0.24% 42.48 Delayed Quote.22.62%
SWEDISH KRONA / EURO (SEK/EUR) 0.21% 0.098038 Delayed Quote.-1.57%
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Financials
Sales 2021 4 690 M 5 548 M 5 548 M
Net income 2021 1 636 M 1 935 M 1 935 M
Net Debt 2021 2 320 M 2 744 M 2 744 M
P/E ratio 2021 12,8x
Yield 2021 5,39%
Capitalization 23 541 M 27 863 M 27 849 M
EV / Sales 2021 5,51x
EV / Sales 2022 3,81x
Nbr of Employees 13 204
Free-Float 89,3%
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Number of Analysts 15
Last Close Price 42,39 €
Average target price 43,63 €
Spread / Average Target 2,92%
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Managers and Directors
Torbj÷rn Magnusson President & Group Chief Executive Officer
Knut Arne Alsaker Chief Financial Officer
Bj÷rn Arne Christer Wahlroos Chairman
John Patrick Sture Lapvetelńinen Group Chief Investment Officer
Risto Fredrik Murto Independent Director
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