Back to archive
9.6.2017 | Stock exchange releases

Kojamo plc: Kojamo plc’s offering of EUR 500 million Eurobond successfully completed – Kojamo Group

Stock exchange releases

Stock exchange release 9 June 2017, at 17:30
Other information disclosed according to the rules of the Exchange

Kojamo plc’s offering of EUR 500 million Eurobond successfully completed


Kojamo plc has successfully completed the offering of EUR 500 million unsecured Eurobond (“the Bond”). The tenor of the euro-denominated Bond is 7 years, and the maturity date is 19 June 2024. The Bond carries a fixed coupon of 1.50 per cent, payable annually on 19 June.

The Bond was allocated to a broad base of international institutional investors and the offering was multiple times oversubscribed. Kojamo plc will apply for listing of the Bond on the official list of the Irish Stock Exchange, and for its admission to trading on the relevant regulated market. The Bond has been rated Baa2 (stable) by Moody’s.

The company will use the proceeds of the issuance of the Bond to repay existing secured indebtedness and /or to refinance loans and for general corporate purposes.

According to Chief Financial Officer Erik Hjelt, “We are pleased with the successful offering and with the market success of the Bond. The Bond was offered to a large number of European investors. The Bond was oversubscribed and closed within a few hours. This inaugural Eurobond supports Kojamo’s aim to invest in Lumo homes in the urbanizing Finland.”

Deutsche Bank, Nordea and OP Corporate Bank acted as the Joint Global Coordinators and Joint Bookrunners. Danske Bank and Handelsbanken Capital Markets acted as Joint Bookrunners.

Helsinki, 9 June 2017


Further information:
Jani Nieminen, CEO, tel. +358 20 508 3201
Erik Hjelt, CFO, tel. +358 20 508 3225

Kojamo plc focuses on real estate investments in Finland, renewing rental housing in order to make it increasingly attractive. The company develops Lumo homes and services that promote work-related mobility in the urbanising Finland, increase well-being and protect the environment. Over the past five years, the Group has invested nearly EUR 1.5 billion in commercial rental housing.

This release is intended solely for the purpose of disclosure, and should not be construed as a bid to buy or sell any securities of Kojamo plc (hereinafter “Kojamo”). The sharing in certain countries of this release and of the associated bond issuance to the value of EUR 500 million (hereinafter “the Bond”) may be prohibited or restricted by law in the country in question. No measures have been taken to register or qualify the Bond, or to otherwise make a public offer of the Bond in any country. Any bidding documents related to the Bond can be accepted only within the framework the appropriate exemptions or restrictions that are applied to the case in question. Recipients of this release and of any bidding documentation of the sort just mentioned are expected to obtain the appropriate information about these restrictions, and are expected to abide by them. It is prohibited for this relese and any such promotional material or documentation to be distributed or published in countries in which doing so would be in breach of the relevant legislation of that country, or would require actions other than any relevant actions that are in accordance with Finnish law. In particular, it is prohibited for this release or any promotional materials or documentation of the aforementioned type to be disclosed in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, or any other country in which offering of the Bond is not permitted, and in which neither this release nor any other materials related to the Bond can be sent to any persons in any of the countries listed above. The information contained in this release does not constitute a bid to sell or buy, or an invitation for bids to buy or sell, any securities belonging to Kojamo plc, such as the Bond, to any such person in a country where such a bid, invitation to bid, or sale would be unlawful. Neither Kojamo plc, nor the principal organisers nor the coordinators or their representatives, have any legal responsibility for any such violations, regardless of whether or not the restrictions that have been violated and that applied to Kojamo’s securities, such as the Bond, were known to the person or party that considered investing in or selling them. The Bond has not been registered and will not be registered in accordance with the United States Securities Act, or in accordance with the securities act of any other jurisdiction. It is prohibited for the Bond to be offered, sold, pledged, or otherwise transferred, whether directly or indirectly, within the United States, or for or on behalf of any person who is resident in the United States.

Kojamo plc has not authorised the Bond to be offered to the public in any member state of the European Economic Area. The Bond is offered in any member state of the European Economic Area under the exception to the obligation to publish the Prospectus (directive 2003/71/EC, as amended), as the Prospectus has been implemented in the member states of the European Economic Area (hereinafter each “Relevant Member State”). A bid related to the Bond to the public in any Relevant Member State cannot be made unless such a bid can be made available to the public in the Relevant Member State under the following exceptions to the Prospectus, if the Prospectus is implemented in the Relevant Member State: (a) experienced investors as defined in the Prospectus; (B) fewer than 150 natural or legal persons (other than experienced investors, as these latter are defined in the Prospectus); or (c) under other circumstances that come within the scope of Article 3(2) of the Prospectus, provided that such provision does not require Kojamo plc, the main organisers, or the coordinators to publish a proposal in accordance with Article 3 of the Prospectus, or to supplement the Prospectus in accordance with Article 16 of the Prospectus. The term “offering securities to the public” in relation to any securities in any Relevant Member State refers to any means of communicating and providing sufficient information on the terms and conditions of the offer, and refers also to providing the securities offered in order that the investor be able to decide on the acquisition of securities, as the expression may vary due to the implementation measures taken in each Relevant Member State.

The information provided in this release, and all materials related to the issuance of bonds, is intended for persons in the United Kingdom only in circumstances in which Article 21(1) of the United Kingdom’s Financial Services and Markets Act 2000 (as amended) cannot be applied; and this same information is intended for use in the United Kingdom only (a) for persons with professional experience of investing within the meaning of Article 19(5) of the United Kingdom’s Financial Promotion 2005 (“the Order”) for the financial sector and markets; or to persons covered by (b) Article 49(2), subsections (a)-(d) persons, or to other persons to whom the contents of the documents can be lawfully disseminated (that is, any and all such persons referred to as “the relevant person”). Any person who is not a relevant person should not act on the basis of the said documents, and should not rely on the content of the said documents.