Huhtamäki Oyj Completes Tender Offer for 2026 and 2027 Notes

Huhtamäki Oyj Concludes Tender Offer for Notable Notes

Huhtamäki Oyj has recently finalized its voluntary tender offer for its outstanding notes maturing in 2026 and 2027, signaling a strategic move in the company’s financial management. This initiative allows holders of these notes an opportunity to tender them for cash, managed by OP Corporate Bank plc.

Key Details of the Tender Offer

The tender offer, which expired on September 1, included significant commitments to investors. Huhtamäki Oyj provided the chance for holders to sell back approximately EUR 175 million worth of notes set to mature in 2026, along with EUR 500 million in 2027 notes. The total accepted purchase amounts showcase the robust interest from investors in response to this offer.

Purchasing and Acceptance Information

Upon closing the offer, an aggregate nominal amount of EUR 159.5 million of the 2026 notes was accepted. Conversely, for the 2027 notes, although their initial total was EUR 500 million, valid purchases amounted to EUR 125 million, subject to a proration factor of approximately 37.142%. These careful measures reflect Huhtamäki's due diligence and accountability toward its financial stakeholders.

Interest Payments and Settlement Dates

In addition to purchasing these notes, Huhtamäki Oyj plans to pay accrued and unpaid interest on all accepted purchases. Notably, the settlement dates for these transactions are set for September 3 and September 4 of the current year, further enhancing the timely execution of this offer.

About Huhtamäki Oyj

Huhtamäki Oyj, recognized globally, thrives as a leading provider of sustainable packaging solutions. With a commitment to reducing food waste and promoting hygiene and safety, their innovative products cater to consumers worldwide. Headquartered in Espoo, Finland, the company prides itself on its rich history of over 100 years, a strong Nordic legacy, and a workforce of about 18,000 professionals spread across 36 countries.

Strong Financial Performance

For the most recent financial year, Huhtamäki Oyj reported net sales totaling EUR 4.1 billion. These figures underline the company's strength and resilience in a competitive market, emphasizing their focus on sustainability. Their strategic decisions, such as this recent tender offer, are aligned with long-term growth and stability goals.

Expert Guidance and Contacts

Huhtamäki Oyj ensures that their financial strategies are well-supported with expert advice. The contact for investor inquiries is Tom Erander, Vice President of Treasury, reachable at +358 10 686 7893. Additionally, potential participants in tender offers can engage with the Dealer Managers from BNP Paribas or OP Corporate Bank plc for assistance.

Frequently Asked Questions

What was the purpose of Huhtamäki Oyj's recent tender offer?

The tender offer aimed to allow holders of the notes maturing in 2026 and 2027 to sell their securities back to the company for cash, reinforcing liquidity and investor relations.

When did the tender offer expire?

The tender offer expired on September 1, allowing no further submissions after this date.

What were the amounts accepted in the tender offer?

Huhtamäki Oyj accepted EUR 159.5 million of 2026 notes and EUR 125 million of 2027 notes, reflecting robust participation from investors.

Who can I contact for further details about this offer?

For more information, investors can contact Tom Erander, Vice President of Treasury at Huhtamäki Oyj, or seek assistance from the Dealer Managers at BNP Paribas or OP Corporate Bank plc.

What is Huhtamäki’s position in the market?

Huhtamäki Oyj is a prominent global player in sustainable packaging, showcasing significant financial strength with EUR 4.1 billion in net sales and a dedicated focus on innovation and sustainability.

About The Author

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