€200,000,000 6.250% Senior Secured Notes due 2020
€230,000,000 Floating Rate Senior Secured Notes due 2020
Helsinki, 28 November 2014
Paroc Group Oy (the "Issuer") hereby gives notice that on 23 October 2014 the Board of Directors of the Issuer approved the repurchase of a portion of its 6.250% Senior Secured Notes due 2020 (the "Fixed Rate Notes") and/or Floating Rate Senior Secured Notes due 2020 (the "Floating Rate Notes" and, together with the Fixed Rate Notes, the "Notes") in an aggregate principal amount sufficient to reduce the consolidated leverage ratio of the Issuer and its subsidiaries to less than 5.2 to 1.0, and thereby ensure that a Specified Change of Control Event (as defined in the Notes indenture) occurs in connection with the pending sale of the Parae group. Repurchases of the Notes will be made in the open market from time to time at management's discretion. The timing and amount of specific repurchases will be subject to market conditions and other factors, and repurchases may be commenced, suspended or discontinued at any time without prior notice. Any Notes so purchased by the Issuer may be cancelled.
For further information please contact:
Joakim Flinck, Director Group Finance and Head of Investor Relations
Tel: +358 40 556 4757 or email: firstname.lastname@example.org