BEWI refinances debt with new bond issuance, tender offer

BEWI ASA has successfully issued €250 million in new senior secured floating rate bonds, maturing in September 2029, with an interest rate of 3m Euribor + 400 basis points. The new bonds were issued under a total framework of €325 million, and BEWI intends to apply for their admission to trading on Nasdaq Stockholm's corporate bond list. Settlement for these new bonds is expected on September 12, 2025.

Concurrently, BEWI announced the results of a tender offer for its existing 2021/2026 senior unsecured bonds, which had an outstanding amount of €250 million. The tender offer saw holders tender €154.75 million nominal amount of the outstanding bonds. Settlement for the tendered bonds is also expected on September 12, 2025.

BEWI intends to exercise its right of early redemption for the remaining outstanding bonds, subject to conditions. This early redemption is expected on September 25, 2025, with repurchases at 101.380 percent of the nominal amount plus accrued interest. DNB Carnegie and Nordea Bank Abp acted as arrangers and joint bookrunners for the new bond issuance, and as dealer managers for the tender offer.