Successful Bond Issue by ZetaDisplay AB
ZetaDisplay AB (publ) is thrilled to announce its successful completion of a new bond issuance amounting to SEK 500 million. Through a structured bookbuilding process, ZetaDisplay has successfully placed this senior secured bond issue, which boasts a three-year term.
Key Features of the Bond Issue
The newly issued bonds, referred to as the "Bonds," will feature a floating interest rate linked to the 3-month STIBOR, coupled with a margin of 6.50%. Investors responded positively, leading to substantial demand from institutional backers, both new and existing.
Settlement and Listing Plans
Settlement for this bond issue is anticipated to take place on or around April 4, 2025. ZetaDisplay intends to pursue a listing for these Bonds on Nasdaq Stockholm, enhancing its visibility and credibility in the financial markets.
Tender Offer for Existing Bonds
In conjunction with the bond issuance, ZetaDisplay is addressing its existing senior secured bonds with ISIN SE0018742488, offering bondholders the chance to tender their bonds. The offered price stands at 102.325% plus accrued interests, in line with the terms provided in the Tender Information Document released on March 14, 2025.
Tender Offer Outcomes
The Tender Offer concluded successfully today at 13:00 CET, with valid tenders amounting to SEK 166.25 million having been received. Every valid tender instruction has been accepted, and the settlement for this offer is also scheduled for approximately April 4, 2025.
Future Redemption Plans
ZetaDisplay has expressed its intention to execute an early redemption of its existing bonds, adhering to Clause 9.3 of the bond terms. The redemption date is set for April 17, 2025, where bondholders can expect to receive 102.325% of the nominal amount along with accrued interests.
Conditions Affecting Redemption
It's important to note that the obligation to redeem these bonds is contingent upon the successful issuance of the new bonds and fulfilling certain conditions precedent. Therefore, the early redemption will proceed only if all necessary conditions are satisfied.
Impact on Existing Bonds
Bondholders should be aware that the existing bonds will be de-listed from Nasdaq Stockholm's corporate bond list following the scheduled redemption date. This action is part of ZetaDisplay's strategic decisions to streamline its capital structure.
The bond issue was orchestrated with the assistance of Pareto Securities, which acted as the Global Coordinator and Joint Bookrunner. Nordea Bank Abp also played a crucial role as a Joint Bookrunner in this transaction.
Contact Information
For further insights or inquiries regarding this announcement, please reach out to:
Anders Olin, President & CEO
Mobile: +46 076-101 14 88
Email: anders.olin@zetadisplay.com
Claes Pedersen, CFO
Mobile: +45 23-68 86 58
Email: claes.pedersen@zetadisplay.com
Frequently Asked Questions
What is the amount of the newly issued bonds by ZetaDisplay AB?
The newly issued bonds amount to SEK 500 million.
When is the settlement date for the bond issue?
The settlement date is expected to be on or around April 4, 2025.
What interest rate will the new bonds carry?
The new bonds will have a floating interest rate based on 3-month STIBOR plus a margin of 6.50%.
What is the offer price for the existing bonds?
The offer price for the existing bonds is 102.325% plus accrued unpaid interest.
Who coordinated the bond issuance?
Pareto Securities acted as the Global Coordinator for the bond issuance.
