24 May 2024
To the noteholders in:
ISIN: SE0012702967 – Svea Bank AB up to SEK 300,000,000 tier 2 subordinated floating rate notes
Reference is made to the terms and conditions of the above-mentioned notes (with an aggregate amount outstanding of SEK 300,000,000) (the “Notes”) issued by Svea Bank AB (the “Issuer”) on 20 June 2019 in accordance with the terms and conditions for the Notes (the “Terms and Conditions”).
All capitalised terms used herein and not otherwise defined in this notice shall have the meaning assigned to them in the Terms and Conditions.
1. NOTICE
The Issuer hereby gives conditional notice to all Noteholders that it will exercise its right to early voluntary redemption of all outstanding Notes in accordance with Clause 8.2 of the Terms and Conditions (the “Redemption”). Subject to the Condition described below, the Redemption Date is set to 20 June 2024 and the Record Date for the redemption will be 13 June 2024, i.e. five (5) Business Days prior to the Redemption Date.
The Redemption is conditional upon the Issuer’s successful settlement of SEK 300,000,000 floating rate callable tier 2 capital bonds with an expected term of 10.25 years (including the full and due receipt of funds by the Issuer, which will enable the Issuer to finance the Redemption (including any accrued interest thereon) (in accordance with the press release published on 24 May 2024) prior to the Record Date (the “Condition”).
The Issuer shall inform the Agent and the Noteholders by way of press release at least one (1) Business Day prior to the Record Date if the Condition is, or will not be, satisfied. Should the Condition not be fulfilled by the Record Date, the Redemption will not occur.
If the Condition is satisfied, the Redemption will be irrevocable and the Notes will, on the Redemption Date, be redeemed at a price per Note equal to 100 per cent of the Nominal Amount. Any accrued and unpaid interest will also be paid in respect of the Notes in accordance with the Terms and Conditions.
The redemption amount (together with accrued but unpaid interest) will be paid on the Redemption Date to each person who is registered as owner of Notes in the debt register maintained by Euroclear Sweden AB at end of business on the Record Date, being 13 June 2024.
In connection with the Redemption, the Notes will be delisted from Nasdaq Stockholm.
This conditional notice of early voluntary redemption is irrevocable and is governed by Swedish law. This notice is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of the Issuer.
2. CONTACT DETAILS
For further information or questions to the Issuer, please contact:
Lennart Ågren, CEO
Tel. no.: +46 8-735 90 00
E-mail: lennart.agren@svea.com
Simon Nybacka, CFO
Tel. no.: +46 8-735 90 00
E-mail: simon.nybacka@svea.com