Statkraft AS: Result of Tender Offer

Statkraft AS Announces Results of Tender Offer
for its €500,000,000 6.625 per cent. Notes due 2 April 2019

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

27 March 2018.  Statkraft AS (the Company) announces today the results of its invitation to holders of its €500,000,000 6.625 per cent. Notes due 2 April 2019 (ISIN: XS0421565150) (the Notes) to tender such Notes for purchase by the Company for cash (the Offer).

The Offer was announced on 20 March 2018, and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 20 March 2018 (the Tender Offer Memorandum) prepared by the Company.  Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

Results of Offer

The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 26 March 2018.

As at the Expiration Deadline, the Company had received valid tenders of €218,782,000 in aggregate nominal amount of the Notes for purchase. The Company announces that it has decided to accept for purchase all Notes validly tendered pursuant to the Offer.

The Settlement Date in respect of those Notes accepted for purchase is expected to be 28 March 2018. 

A summary of the final results of the Offer appears below:

Following settlement of the Offer, €281,218,000 in aggregate nominal amount of the Notes will remain outstanding.

BNP Paribas (Telephone: +44 20 7595 8668; Email: liability.management@bnpparibas.com) and Société Générale (Telephone: +33 142 12 32 40; Email: liability.management@sgcib.com) are acting as Dealer Managers for the Offer and Lucid Issuer Services Limited (Telephone: +44 20 7704 0880; Email: statkraft@lucid-is.com) is acting as Tender Agent.

This announcement is released by Statkraft AS and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Geir Bangsund, Senior Vice President, Treasury at Statkraft AS.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum.  No offer or invitation to acquire any securities is being made pursuant to this announcement.  The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law.  Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

For additional information:

Funding Manager Stephan Skaane, tel.: +47 24 06 83 06 / +47 905 13 652
VP Tron Ringstad, tel.:+47 24 06 73 12 / +47 992 93 670

Statkraft AS is a leading company in hydropower internationally and Europe's largest generator of renewable energy. Statkraft and its subsidiaries produce hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft AS is a global company in energy market operations. Statkraft AS has 3600 employees in 16 countries.