STOCK EXCHANGE RELEASE 17 Nov 2015
Pöyry PLC: Pöyry issues EUR 30 million hybrid capital securities
PÖYRY PLC Company Announcement 17 November 2015 at 5:00 p.m. (EET)
Pöyry issues EUR 30 million hybrid capital securities
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN AND SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Pöyry PLC issues hybrid capital securities of EUR 30 million. The capital securities bear a fixed interest rate of 7.50 per cent until 25 November 2019, after which the interest rate will be floating. The capital securities have no maturity date, but the company has the right to redeem them after four (4) years from the issue date upon certain conditions. The issue date of the capital securities is on or about 25 November 2015. The purpose of the issue is to strengthen the company's balance sheet. The capital securities were offered mainly to institutional investors as private placement in Finland.
The capital securities are debt instruments, which are subordinated to the company's unsubordinated debt obligations and treated as equity in the consolidated financial statements under IFRS. The capital securities do not confer on their holders the right to vote at shareholder meetings and do not dilute the holdings of the current shareholders.
Nordea Bank Finland Plc and Pohjola Bank plc act as the joint lead managers and Castrén & Snellman Attorneys Ltd as the company's legal advisor in the issue of the capital securities.
Board of Directors
Jukka Pahta, CFO
Tel. +358 10 33 26088
NASDAQ OMX Helsinki
This release is for informational purposes only and is not to be construed as an offer to purchase, sell or subscribe with respect to any securities, including the capital securities, of Pöyry. The distribution of this release is prohibited by law in certain countries. Persons into whose possession this release may come are required to inform themselves about and comply with such restrictions. This release may not be distributed or published in any country or jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of a state or jurisdiction other than Finland, including the United States, Australia, Canada, Hong Kong, Japan or Singapore. The information contained in this release shall not constitute an offer to sell, purchase or subscribe any of Pöyry's securities, including the capital securities, to any persons in any jurisdiction in which such offer, sale, purchase or subscription would be unlawful. None of Pöyry, the joint lead managers or their respective representatives assume any legal responsibility for such violations, regardless of whether persons contemplating investing in or divesting Pöyry's securities, including the capital securities, are aware of these restrictions or not.
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and provide local services in our core markets. We deliver management consulting and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2014 were EUR 571 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).