Stock exchange release
May 10, 2017 at 9.30 am EET
Outokumpu announced today the voluntary redemption of EUR 25 million related to its outstanding EUR 250 million senior secured notes due 2021 with 7.25% interest rate (OUTJO72521, ISIN code FI4000210646). Ten percent of the outstanding nominal amount of each note will be redeemed by Outokumpu on the redemption date of June 16, 2017 in accordance with the terms and conditions of the notes. The notes are listed on the Nasdaq Helsinki Ltd.
As part of the Group’s cost reduction measures, the redemption of the notes will reduce interest costs. Since the redemption does not affect Outokumpu’s net debt or gearing, the company considers the overall financial impact of the redemption of the notes to be insignificant to the Group.
On the redemption date, Outokumpu will pay each noteholder a redemption price equal to 103% for the 10% of the principal amount of each note as well as all accrued and unpaid interest on such principal amount, in accordance with the terms and conditions of the notes. As a result of the partial redemption, the new outstanding nominal amount of each EUR 1,000 note will be EUR 900, and the total aggregate outstanding nominal amount of the notes will be EUR 225 million.
The notice of redemption is being delivered to the noteholders in accordance with the terms and conditions of the notes. The redemption will be paid automatically to the noteholders.
For more information:
Investors: Tommi Järvenpää, tel. +358 9 421 3466 and Juha Hakala, tel. +358 40 533 2536
Media: Reeta Kaukiainen, tel. +358 50 522 0924
Outokumpu is a global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs some 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com outokumpu.com/stainless-news choosestainless.outokumpu.com