Outokumpu - Voluntary total redemption of rated senior secured fixed rate notes due in 2024

On November 4, 2021, Outokumpu Oyj announced it will redeem all its outstanding 4.125% rated senior secured fixed rate notes due in 2024, totaling EUR 250 million.

Rhea-AI Summary

On November 4, 2021, Outokumpu Oyj announced it will redeem all its outstanding 4.125% rated senior secured fixed rate notes due in 2024, totaling EUR 250 million. The redemption will occur on December 7, 2021, with a redemption price of 101.0313% of the principal amount plus accrued interest. This action will be financed through existing liquidity reserves, highlighting the company's financial stability and commitment to managing its debt effectively.

Positive

• Redemption of 4.125% notes indicates strong liquidity position.
• Financing through existing reserves suggests prudent financial management.

Negative

• None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HELSINKI, Nov. 4, 2021 /PRNewswire/ -- Outokumpu Oyj announces that it will redeem in full its outstanding 4.125 percent rated senior secured fixed rate notes due in 2024 (ISIN FI4000331004, OUTJ412524) on the redemption date of December 7, 2021 in accordance with section 8.4 of the terms and conditions of the notes. The notes are listed on the official list of Nasdaq Helsinki Ltd.

The current outstanding nominal amount of the notes is EUR 250 million. On the redemption date, Outokumpu will pay the holders of the notes a redemption price equal to 101.0313 percent of the outstanding principal amount of each note and all accrued and unpaid interest on such principal amount in accordance with the terms and conditions of the notes.

Outokumpu will use existing liquidity reserves to finance the redemption.

For more information:

Investors:  Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669

Media: Päivi Allenius, VP - Communications, tel. +358 40 753 7374 or corporate communications, tel. +358 9 421 3840

Outokumpu Group

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SOURCE Outokumpu Oyj

FAQ

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What are the details of Outokumpu's note redemption on December 7, 2021?

Outokumpu will redeem its 4.125% rated senior secured fixed rate notes due in 2024, worth EUR 250 million, at a price of 101.0313% of the principal amount.

How will Outokumpu finance the redemption of its notes?

Outokumpu will use existing liquidity reserves to finance the redemption.

What is the total nominal amount of the notes being redeemed by Outokumpu?

The total nominal amount of the notes being redeemed is EUR 250 million.

When was the announcement regarding the redemption made by Outokumpu?

The announcement was made on November 4, 2021.

What will Outokumpu pay to note holders upon redemption?

Outokumpu will pay a redemption price equal to 101.0313% of each note's outstanding principal amount plus all accrued and unpaid interest.