Press Release, July 12, 2018
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN,
OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
Kongsberg, Norway - July 12, 2018 - Kongsberg Actuation Systems B.V., an
indirect wholly owned subsidiary of Kongsberg Automotive ASA, successfully
placed Euro 275 million senior secured notes in the international capital
today. The notes have a term of seven years (until 2025) and a yield of 5.0%
The notes are governed by New York law (144A/Reg S) and are expected to be
listed on The International Stock Exchange in the Channel Islands. The gross
proceeds from the notes will be used for the refinancing of the existing U.S.
dollar 172 million and Euro 182 million revolving credit facilities of
Automotive ASA, for general corporate purposes and to pay fees and expenses in
connection with offering and the entry into a new Euro 50 million revolving
Standard & Poor's and Moody's rate the notes with BB- and Ba3, respectively.
These materials are not an offer for sale of securities.
Copies of this announcement are not being made and may not be distributed or
sent into the United States, Australia, Canada, Japan or any other jurisdiction
in which such distribution would be unlawful or would require registration or
The securities to be issued in a debt capital market transaction (the
"Securities") have not been registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold in the United
States absent registration or an exemption from the registration requirements of
the Securities Act. The Company does not intend to register any part of the
Securities in the United States or to conduct a public offering of Securities in
the United States.
This communication is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order") or (iii) above together being
referred to as "relevant persons"). The securities are only available to, and
any invitation, offer or agreement to subscribe, purchase or otherwise acquire
such securities will be engaged in only with, relevant persons. Any person who
is not a relevant person should not act or rely on this document or any of its
This news release may include "forward-looking statements" within the meaning of
the securities laws of certain applicable jurisdictions. These forward-looking
statements include, but are not limited to, all statements other than statements
of historical facts contained in this news release, including, without
limitation, those regarding KA's intentions, beliefs or current expectations
concerning, among other things: KA's future financial conditions and
performance, results of operations and liquidity; KA's strategy, plans,
objectives, prospects, growth, goals and targets; future developments in the
markets in which KA participates or is seeking to participate; and anticipated
regulatory changes in the industry in which KA operates. These forward-looking
statements can be identified by the use of forward-looking terminology,
including the terms "anticipate," "believe," "continue," "ongoing," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict," "project," "target,"
"seek" or, in each case, their negative, or other variations or comparable
terminology. By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors because they relate to events and
depend on circumstances that may or may not occur in the future. Readers are
cautioned that forward-looking statements are not guarantees of future
performance and that KA's actual financial condition, results of operations and
cash flows, and the development of the industry in which KA operates, may differ
materially from (and be more negative).
For more information, please contact:
Kongsberg Automotive Corporate Communication:
Marcus von Pock - Communications +41 43 508 94 93
Hallstein Kvam Oma - Investor relations +41 43 508 89 63
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.