Stena AB (publ) announced today that it intends to offer EUR 300
million aggregate principal amount of senior notes due 2017 in a
private offering pursuant to Rule 144A and Regulation S under the U.S.
Securities Act of 1933. The offering, which remains subject to market
conditions, is expected to be made in the United States solely to
qualified institutional buyers and, outside the United States, solely
to eligible institutions. The offering is expected to be completed in
early February. J.P. Morgan Securities plc., Deutsche Bank AG London
and Citigroup Global Markets are acting as Book-Running Managers for
the offering.
Stena intends to use the proceeds of the offering to fund a cash
tender offer for its outstanding 9 5/8% Senior Notes due 2012 and for
general corporate purposes. Stena also said that in connection with
the tender offer it intends to solicit consents from holders of the
2012 notes for amendments that would eliminate the principal
restrictive covenants in the notes. Stena stated that it intends to
announce the definitive terms of the 2012 note tender offer next week
upon commencement of the offer.
This announcement is for informational purposes only. It does not
constitute an offer to buy the 9 5/8% Senior Notes due 2012, or an
offer to sell the new notes or any other securities. No offer or sale
of the new notes shall be made in any jurisdiction where such an offer
or sale would be unlawful.
About Stena AB
Stena AB (Publ) is one of the largest privately held companies in
Sweden and a leading participant in the worldwide shipping industry.
Stena owns and operates one of the world's largest international
passenger and freight ferry services and owns and charters drilling
rigs, Roll-on/Roll-off vessels and crude oil and petroleum product
tankers. Stena also invests in and manages residential and commercial
real estate, principally in Sweden.
Safe Harbor Statement
This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E of
the Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. Such statements reflect the current
views and assumptions with respect to future events and are subject to
risks and uncertainties. Many factors could cause the actual results,
performance or achievements to be materially different from any future
results, performance or achievements that may be expressed or implied
by such forward-looking statements. Factors that could cause the
actual results to differ materially from those expressed or implied in
such forward-looking statements, include, but are not limited to:
changes in general economic and business conditions, changes in
business strategy, and other risks set forth in the Risk Factors
section of our Annual Report on Form 20-F filed with the Securities
and Exchange Commission and in other reports furnished to the
Securities and Exchange Commission from time to time.
This press release is not an offer of securities for sale in the
United States. The new notes will not be registered under the U.S.
Securities Act of 1933 or any U.S. state securities laws and may not
be offered or sold in the United States absent an applicable exemption
from such registration requirements.
This announcement is directed only at persons who (i) are outside
the United Kingdom or (ii) are persons falling within Article 49(2)(a)
to (d) ("high net worth companies, unincorporated associations, etc.")
of The Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (all such persons together being referred to as "relevant
persons"). This announcement is directed only at relevant persons and
must not be acted on or relied on by persons who are not relevant
persons. Any investment or investment activity to which this press
release relates is available only to relevant persons and will be
engaged in only with relevant persons.
STABILISATION/FSA
