MEKO considers new bond issue and announces a conditional tender offer

Not for distribution in or into or to any person located or resident in the United States, its territories and possessions or to any U.S. person (as defined in Regulation S of the United States Securities Act of 1933, as amended) or in any jurisdiction where it is unlawful to release, publish or distribute this press release. The distribution of this press release in certain jurisdictions may be restricted by law.

MEKO AB is considering issuing new senior unsecured bonds, has announced a conditional tender offer for its outstanding 2021/2026 bonds, and intends to announce early redemption. A series of fixed income investor meetings will be arranged starting on 2 June 2025 to explore the possibility of issuing new senior unsecured bonds in an expected aggregate amount of SEK 1,250 million and with a tenor of three and/or five years, respectively (the “New Bonds”). A capital market transaction may follow, subject to prevailing market conditions.

The proceeds from the contemplated bond issue will be used to refinance MEKO’s outstanding senior unsecured 2021/2026 bonds, with ISIN SE0015660022 (the “Existing Bonds”) with an outstanding volume of SEK 1,250 million, and to finance general corporate purposes. MEKO will, in connection with the allocation of the New Bonds, consider, among other factors, whether the relevant investor seeking an allocation of the New Bonds has participated in the Tender Offer (as defined below), subject to the terms set out in the Tender Information Document (as defined below).

In conjunction with the contemplated issue of the New Bonds, MEKO has today announced a conditional offer to the holders of the Existing Bonds, to tender any and all of their Existing Bonds for purchase by MEKO for cash at a price of 100.50 per cent. of the nominal amount plus accrued and unpaid interest (the “Tender Offer”). The Tender Offer is subject to the terms described in the tender information document dated 2 June 2025 (the “Tender Information Document”). The Tender Information Document is available on MEKO’s website at https://meko.com/investors/financial-information/financing/. The Tender Offer expires at 12:00 on 5 June 2025, unless extended, re-opened, withdrawn or terminated at the sole discretion of MEKO. Settlement of the Tender Offer is expected to occur on or around 12 June 2025.

Subject to a successful issuance of the New Bonds, MEKO further announces that it intends to exercise its right to make a voluntary early redemption of the outstanding Existing Bonds which are not repurchased through the Tender Offer no later than 2 October 2025 (the “Early Redemption”). In the event of such Early Redemption, the Existing Bonds will be redeemed at a call option price of 100 per cent. of the nominal amount plus accrued and unpaid interest.

Danske Bank, Nordea and SEB act as joint bookrunners in for the issuance of the New Bonds and as dealer managers for the Tender Offer. Snellman Advokatbyrå AB act as legal advisor.