On 6 March 2024, Castellum AB (publ) (“Castellum") and its subsidiary Kungsleden AB (“Kungsleden”) (each an “Issuer” and together the “Issuers”) announced their joint invitation to the holders (the “Noteholders”) of certain of their respective outstanding notes outlined in the schedule below (the “Notes”) to tender their Notes for purchase by the respective Issuer for cash plus accrued and unpaid interest (however, subject to the Transaction Cap (as defined in the Tender Information Document)) (the “Tender Offer”). The Tender Offer is subject to the terms described in the tender information document dated 6 March 2024 (the ”Tender Information Document”). The Tender Offer is being made jointly by the Issuers as the Issuers form part of the same group, where Castellum is the parent company of the Group and Kungsleden is a subsidiary of Castellum.
The Tender Offer expired at 11:00 CET on 8 March 2024. Castellum now announces that it will complete the Tender Offer by accepting repurchases of SEK 3,422,000,000 in aggregate nominal amount of the Notes issued by Castellum as outlined in the below schedule for purchase pursuant to the Tender Offer.
The results of the Tender Offer are as follows:
Acceptance Priority | Description of the Notes | ISIN | Issuer | Nominal Purchase Amount | Purchase Price | Expected outstanding aggregate nominal amount immediately following settlement of the Tender Offer |
| Priority 1 Priority 1 Priority 1 Priority 1 Priority 1 Priority 1 Priority 1 Priority 1 | Sr Unsec. due Feb 2025 Sr Unsec. due Feb 2025 Sr Unsec. due Mar 2025 Sr Unsec. due May 2025 Sr Unsec. due Aug 2025 Sr Unsec. due Aug 2025 Sr Unsec. due Sep 2025 Sr Unsec. due Nov 2025 | SE0013103876 SE0012676765 SE0013360138 SE0011230853 SE0013359734 SE0013359742 SE0013884335 SE0012675916 | Castellum AB Castellum AB Castellum AB Castellum AB Castellum AB Castellum AB Castellum AB Castellum AB | SEK 152,000,000 SEK 392.000.000 SEK 312,000,000 SEK 580,000,000 SEK 552,000,000 SEK 64,000,000 SEK 578,000,000 SEK 388,000,000 | 100.375% 97.100% 100.250% 101.000% 101.350% 96.550% 102.100% 95.650% | SEK 314,000,000 SEK 8,000,000 SEK 38,000,000 SEK 420,000,000 SEK 428,000,000 SEK 136,000,000 SEK 422,000,000 SEK 312,000,000 |
| Priority 1 Priority 1 | Sr Unsec. due Jun 2025 Sr Unsec. due Aug 2025 | SE0012676856 SE0013359791 | Kungsleden AB Kungsleden AB | SEK 200,000,000 SEK 430,000,000 | 101.450% 101.200% | SEK 100,000,000 SEK 320,000,000 |
| Priority 2 Priority 2 Priority 2 Priority 2 | Sr Unsec. due Sep 2024 Sr Unsec. due Sep 2024 Sr Unsec. due Sep 2024 Sr Unsec. due Oct 2024 | SE0012676203 SE0013882503 SE0010413948 SE0010440719 | Castellum AB Castellum AB Castellum AB Castellum AB | SEK 304,000,000 SEK 0 SEK 100,000,000 SEK 0 | 98.500% 100.500% 98.875% 100.650% | SEK 296,000,000 SEK 250,000,000 SEK 200,000,000 SEK 150,000,000 |
| Priority 2 Priority 2 Priority 2 Priority 2 | Sr Unsec. due Aug 2024 Sr Unsec. due Sep 2024 Sr Unsec. due Dec 2024 Sr Unsec. due Dec 2024 | SE0012676468 SE0012676500 SE0013103801 SE0013103793 | Kungsleden AB Kungsleden AB Kungsleden AB Kungsleden AB | SEK 0 SEK 0 SEK 46,000,000 SEK 412,000,000 | 100.475% 100.375% 100.475% 97.850% | SEK 300,000,000 SEK 300,000,000 SEK 154,000,000 SEK 88,000,000 |
In addition to the Purchase Price, Castellum will also pay an amount equal to any accrued and unpaid interest on the Notes in accordance with the terms and conditions of the Notes (accrued interest).
The Tender Offer remains subject to the terms set out in the Tender Information Document. The settlement of the Tender Offer is expected to occur on or around 15 March 2024.
The Tender Information Document is available via Castellum’s website on the following link: https://www.castellum.com/investors/financing/mtn-programmes/
In connection with the Tender Offer, Castellum mandated Danske Bank A/S, Danmark, Sverige Filial (“Danske Bank”) and Nordea Bank Abp (“Nordea”) to act as dealer managers for the Tender Offer and as joint bookrunners in the issue of new senior unsecured green notes denominated in SEK.
New Notes
Castellum has today, on 8 March 2024, successfully issued senior unsecured green notes of SEK 2 billion under its MTN program (Medium Term Notes).
Nominal amount of the new bonds is SEK 2,000,000,000, of which SEK 1,250,000,000 was issued on a 3-year maturity and SEK 750,000,000 was issued on a 5-year maturity. The bonds were issued at a credit margin of 1,55% and 2,10% respectively.
The investor interest for the issue was very strong, and with today’s issue, Castellum has issued bonds during the first quarter in 2024, for a total value of SEK 3,000,000,000.
The proceeds from the bond issues will be used according to Castellums Green Financing Framework.
For further information, please contact the Issuer:
Castellum AB:
Joacim Sjöberg, Chief Executive Officer, Castellum Aktiebolag, +46 (0)8 503 052 00
Jens Andersson, Chief Financial Officer, Castellum Aktiebolag, +46 (0)76-855 67 02
