Cramo Oyj - Company Announcement

Cramo considers issuance of a new bond and announces Voluntary Tender Offer of its outstanding bond maturing in 2018

Vantaa, Finland, 2016-11-14 09:30 CET (GLOBE NEWSWIRE) -- 
Cramo Plc  Stock Exchange Release 14 November 2016 at 10.30 Finnish time (EET)

Cramo considers issuance of a New Bond and announces Voluntary Tender Offer of
its outstanding bond maturing in 2018 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA
OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL. 

Nordea Bank Danmark A/S (the “Offeror”) today announces that it invites the
holders of the EUR 100 million 4.50% notes due February 2018 (ISIN:
FI4000051065) (the “Notes”), issued by Cramo, to tender the Notes for cash on
the terms and conditions set out in the Tender Offer Memorandum dated 14
November 2016 (the “Offer”). 

Pursuant to the Offer, the Offeror proposes to accept for purchase any and all
of the Notes, although the Offeror reserves the right, in its sole discretion,
to decide on acceptance of the Notes, including not to accept any Notes. 

Cramo also announces its intention to issue EUR 100-150 million new
euro-denominated fixed rate notes with a long 5 year maturity (the “New
Notes”). Whether the Offeror will accept for purchase any Notes validly
tendered is subject to, without limitation, the pricing of the issue of the New
Notes and the signing by the Joint Lead Managers and Cramo of an issuance
agreement. The purchase price of the Notes is EUR 1,052.61 per EUR 1,000.00 in
principal amount of the Notes. Accrued and unpaid interest will be paid in
respect of all Notes validly tendered and delivered and accepted for purchase. 

The Offer period begins on 14 November 2016 and closes at 16:00 Finnish time
(EET) on 22 November 2016. The Offer results will be announced as soon as
possible following the close of the Offer period and in no case later than 29
November 2016. The settlement date is subject to the execution of the New
Notes, however in no case later than 2 December 2016. 

A noteholder that wishes to subscribe for New Notes in addition to tendering
Notes for cash pursuant to the Offer may receive priority in the allocation of
the New Notes (the “New Issue Allocation”). The New Issue Allocation may be
given for an aggregate nominal amount of New Notes up to the aggregate nominal
amount of Notes subject to a noteholder's valid tender instruction where an
allocation of New Notes is also requested. New Issue Allocations will not be
subject to pro rata scaling. If any noteholder wishes to subscribe for New
Notes it must make an application to subscribe for such New Notes to any of the
Joint Lead Managers of the New Notes. 

The purpose of the arrangement is to proactively manage upcoming debt
redemptions and to extend the average debt maturity profile for the Company. 

Nordea Bank Danmark A/S acts as Offeror and Dealer Manager and Nordea Bank
Finland Plc acts as Tender Agent for the Offer. Information in respect of the
Offer may be obtained from the Offeror and Dealer Manager: email:
NordeaLiabilityManagement@nordea.com / tel: +45 6161 2996. 

Nordea Bank Finland Plc and OP Corporate Bank plc act as Joint Lead Managers
for the issue of the New Notes. 

Castrén & Snellman Attorneys Ltd acts as sole legal counsel in relation to the
Offer and issue of the New Notes. 

CRAMO PLC

Leif Gustafsson
President and CEO




Further information:

Mr Leif Gustafsson, President and CEO, tel: +358 10 661 10
Mr Aku Rumpunen, Interim CFO, tel: +358 10 661 10, +358 40 556 3546
Mr Mattias Rådström, SVP, Communication, Marketing and Investor Relations, tel:
+46 70 868 7045 




Distribution:

Nasdaq Helsinki Ltd.
Principal media
www.cramo.com




Cramo is Europe’s second largest rental services company specialising in
construction machinery and equipment rental and rental-related services as well
as the rental of modular space. Cramo operates in fifteen countries and in
about 330 depots. With a group staff around 2.500, Cramo's consolidated sales
in 2015 was EUR 668 million. Cramo shares are listed on the Nasdaq Helsinki
Ltd. 

Read more: www.cramo.com, www.twitter.com/cramogroup



Disclaimer

The information contained herein shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the securities
referred to herein in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration, exemption from registration or
qualification under the securities laws of any such jurisdiction. 

The information contained herein is not for publication or distribution,
directly or indirectly, in or into the United States, Australia, Canada, Hong
Kong, Japan, South Africa or New Zealand. These written materials do not
constitute an offer of securities for sale in the United States, nor may the
securities be offered or sold in the United States absent registration or an
exemption from registration as provided in the U.S. Securities Act of 1933, as
amended, and the rules and regulations thereunder. There is no intention to
register any portion of the offering in the United States or to conduct a
public offering of securities in the United States. 

This communication is directed only at (i) persons who are outside the United
Kingdom or (ii) persons 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 (the "Order") and (iii) high net
worth entities, and other persons to whom it may lawfully be communicated,
falling within Article 49(2) of the Order (all such persons together being
referred to as "relevant persons"). Any investment activity to which this
communication relates will only be available to and will only be engaged with,
relevant persons. Any person who is not a relevant person should not act or
rely on this announcement or any of its contents.