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Information to Bond Investors

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS OR IN OR INTO ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL.

Stockholm, September 21, 2017

Ovako refinances existing EUR 300 million notes through issuance of new notes in the Nordic corporate bond market

Ovako AB (publ) (“Ovako”) has successfully placed EUR 310 million 5.00 percent senior secured notes due 2022. Ovako intends to list the notes on the Euro MTF market of the Luxembourg Stock Exchange. The new notes will be governed by Swedish law and are expected to be issued on October 5, 2017.

The proceeds from the transaction will be used to refinance Ovako’s existing EUR 300 million notes maturing in June 2019 (the “Existing Notes”) and for general corporate purposes.

Subject to fulfilment of the redemption conditions, the Existing Notes will be redeemed on October 15, 2017.

“We are very pleased with the great interest we have met from investors in the transaction. The offering was quickly oversubscribed and we can now access financing at significantly lower levels than a couple of years ago”, says Johan Ryrberg, CFO.

Carnegie Investment Bank AB (publ), Nordea Bank AB (publ) and Pareto Securities AS acted as Joint Bookrunners to Ovako in connection with the transaction and Linklaters and White & Case acted as legal advisors.

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About Ovako
Ovako develops high-tech steel solutions for, and in cooperation with, its customers in the bearing, transport and manufacturing industries. Our steel makes our customers’ end products more resilient and extends their useful life, ultimately resulting in smarter, more energy-efficient and more environmentally friendly products.

Our production is based on recycled scrap and includes steel in the form of bar, tube, ring and components. Ovako is represented in more than 30 countries and has sales offices in Europe, North America and Asia. Ovako’s sales in 2016 amounted to EUR 781 million, and the company had 2,800 employees at year-end. For more information, please visit us at www.ovako.com.

For further information, please contact:
Media relations
Oskar Bosson, Head of Group Communications
Telephone: +46 704 10 71 80
E-mail: oskar.bosson@ovako.com

Investor relations
Nicholas Källsäter, Head of Group Business Control
Telephone: +46 8 622 13 23
E-mail: nicholas.kallsater@ovako.com

Ovako AB (publ) is required to publish this information pursuant to the EU market abuse regulation. The information was submitted by the above persons for publication on September 21, 2017 at 17:00 (CET).