Outokumpu Oyj - Company Announcement

Exercise of over-allotment option in connection with the Outokumpu offering of senior unsecured convertible Bond

OUTOKUMPU OYJ
STOCK EXCAHANGE RELEASE
Febaruary 19, 2015 at 6.00 pm EET



THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR
IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL 

On February 18, 2015 Outokumpu launched an offering (the “Offering”) of senior
unsecured convertible bonds due February 2020 convertible into ordinary shares
of Outokumpu (the “Bonds”). 

Outokumpu announces that, in connection with the Offering, Crédit Agricole
Corporate and Investment Bank acting as stabilizing manager notified Outokumpu
of the exercise in full of the over-allotment option in respect of the Bonds in
the aggregate principal amount of EUR 35 million. As a result, the aggregate
principal amount of the Bonds in the Offering is increased to EUR 250 million.
Moreover, Crédit Agricole Corporate and Investment Bank has informed Outokumpu
that no stabilization has been carried out during the stabilization period,
which began on February 18, 2015 after publication by Outokumpu of the stock
exchange release relating to the final terms of the Bonds and ended today. 

Settlement and delivery of the Bonds is expected to take place on or about
February 26, 2015. Outokumpu will procure an application to be made to admit
the Bonds to trading on the Open Market (Freiverkehr) segment of the Frankfurt
Stock Exchange prior to the first interest payment date. 

Based on the initial conversion price and following the exercise of the
over-allotment, the Bonds may be converted into maximum of 33,661,873 new
ordinary shares in Outokumpu. 

For further information, please contact:

Johanna Henttonen, SVP - Investor Relations

Tel. +358 9 421 3804, mobile +358 40 530 0778

Juha Hakala, SVP - Corporate Treasurer

Tel. +358 9 421 2644, mobile +358 40 533 2536

 Outokumpu Group


Outokumpu is a global leader in stainless steel. We create advanced materials
that are efficient, long lasting and recyclable - thus building a world that
lasts forever. Stainless steel, invented a century ago, is an ideal material to
create lasting solutions in demanding applications from cutlery to bridges,
energy and medical equipment: it is 100% recyclable, corrosion-resistant,
maintenance-free, durable and hygienic. Outokumpu employs more than 12 000
professionals in more than 30 countries, with headquarters in Espoo, Finland
and shares listed in the Nasdaq Helsinki. www.outokumpu.com 



DISCLAIMER

The information contained in this announcement is for background purposes only
and does not purport to be full or complete. 

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States, Canada, Australia, Japan, South
Africa or any other jurisdiction in which the same would be unlawful. The
distribution of this announcement may be restricted by law in certain
jurisdictions 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. 

This announcement does not constitute or form part of an offer to sell
securities or the solicitation of any offer to subscribe for or otherwise buyany securities to any person in the United States, Canada, Australia, Japan,
South Africa or in any jurisdiction to whom or in which such offer or
solicitation is unlawful. The securities referred to in this announcement have
not been and will not be registered in the United States under the US
Securities Act of 1933, as amended (the “Securities Act”) and may not be
offered or sold in the United States unless registered under the Securities Act
or offered in a transaction exempt from, or not subject to, the registration
requirements of the Securities Act. Subject to certain exceptions, the
securities referred to herein may not be offered or sold in Canada, Australia,
Japan or South Africa or to, or for the account or benefit of, any national,
resident or citizen of Canada, Australia, Japan or South Africa. There will be
no public offer of the securities in the United States, Canada, Australia,
Japan or South Africa. 

The Offering is addressed to, and directed in member states of the European
Economic Area which have implemented Directive 2003/71/EC (as amended, the"Prospectus Directive") at, persons who are “qualified investors” within the
meaning of Article 2(1)(e) of the Prospectus Directive (“qualified investors”).
In addition, in the United Kingdom, the Offer is directed only at qualified
investors (i) who have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) and
qualified investors falling within Article 49(2)(a) to (d) of the Order or (ii)
to whom it may otherwise lawfully be communicated under the Order (all such
persons together being referred to as “relevant persons”). This communication
must not be acted on or relied on by persons who are not relevant persons in
the United Kingdom or qualified investors as the case may be. Any investment or
investment activity to which this communication relates is available only to
relevant persons in the United Kingdom or qualified investors and will be
engaged in only with relevant persons or qualified investors as the case may
be. 

Acquiring investments to which this announcement relates may expose an investor
to a significant risk of losing all of the amount invested. Persons considering
making such investments should consult an authorised person specialising in
advising on such investments. This announcement does not constitute a
recommendation concerning the Bonds. The value of the Bonds can decrease as
well as increase. Potential investors should consult a professional advisor as
to the suitability of the Bonds for the person concerned. 

Crédit Agricole CIB (the “Bookrunner”), BNP PARIBAS, J.P. Morgan Securities
plc, Nordea Bank Danmark A/S, Pohjola Bank plc, Skandinaviska Enskilda Banken
AB (publ) and The Royal Bank of Scotland plc  (the “Co-Lead Managers” and
together with the Bookrunner, the “Managers”) are acting exclusively for
Outokumpu and no one else in connection with the Offering and will not be
responsible to any other person for providing the protections afforded to
clients of the Managers or for providing advice in relation to the Offering,
the Bonds or any other transaction, matter or arrangement referred to in this
announcement. 

Unless otherwise required by applicable securities laws, each of Outokumpu and
the Managers and their respective affiliates expressly disclaims any obligation
or undertaking to update, review or revise any statement contained in this 
announcement whether as a result of new information, future developments or
otherwise. 

In connection with the Offering, the Managers and any of their respective
affiliates, acting as investors for their own accounts, may subscribe for or
purchase securities and in that capacity may retain, purchase, sell, offer to
sell or otherwise deal for their own accounts in such securities and any other
securities of Outokumpu or related investments in connection with the Bonds,
Outokumpu or otherwise. Accordingly, references to the securities being issued,
offered, subscribed, acquired, placed or otherwise dealt in should be read as
including any issue or offer to, or subscription, acquisition, placing or
dealing by, the Managers  and any of their  respective affiliates acting as
investors for their own accounts. The Managers do not intend to disclose the
extent of any such investment or transactions otherwise than in accordance with
any legal or regulatory obligations to do so. 

None of the Managers nor any of their respective directors, officers,
employees, affiliates, advisers or agents accepts any responsibility, duty or
liability whatsoever for or makes any representation or warranty, express or
implied, as to the truth, accuracy or completeness of the information in this
announcement (or whether any information has been omitted from the
announcement) or any other information relating to the Outokumpu, its other
subsidiaries or associated companies, whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available or for any loss
howsoever arising from any use of this announcement or its contents or
otherwise arising in connection therewith. 

In connection with the Offering, Crédit Agricole Corporate and Investment Bank
or any person acting on behalf of the stabilizing manager (the “Stabilizing
Manager”) may over-allot Bonds or effect transactions with a view to supporting
the market price of the Bonds at a level higher than that which might otherwise
prevail. However, there is no assurance that the Stabilizing Manager (or any
persons acting on behalf of the Stabilizing Manager) will undertake
stabilization action. Any stabilization action, if begun, may be ended at any
time, but it must end no later than the earlier of 30 days after the issue date
of the Bonds and 60 days after the date of allotment of the bonds. Any
stabilization action or over allotment shall be conducted in accordance with
all applicable laws and rules.

Attachments:

Over-allotment option ENG 19022015.pdf