Prospectus Nassa Topco AS 2.875% 06Apr2024
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Listing Document Nassa Topco AS (the Issuer) €219,584,000 2.875% Senior Notes due 2024 (the Notes) Application has been made to the Luxembourg Stock Exchange for the admission of the Notes to the Securities Official List of the Luxembourg Stock Exchange (the SOL). No application has or will be made for the Notes to be listed on any other stock exchange and the Notes will not be admitted to trading with the SOL. The Notes are in registered form and in the denomination of €100,000 each and integral multiples of €1,000 in excess thereof maintained in book-entry form. The date of this Listing Document is 17 September 2018. Important notices This Listing Document includes particulars for the purpose of giving information with regard to the Notes and comprises this wrapper document (the Wrapper Document) together with the offering memorandum dated 30 March 2017 (the Offering Memorandum) (the Wrapper Document and Offering Memorandum to be considered together as the Listing Document). The Offering Memorandum should be read in conjunction with this Wrapper Document. The distribution of this Listing Document and the offering, sale and delivery of the Notes in certain jurisdictions may be restricted by law. Persons into whose possession this Listing Document comes are required by the Issuer to inform themselves about and to observe any such restrictions. In particular, the Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the Securities Act) or the securities laws of any other jurisdiction. The Notes may not be offered or sold within the United States or to U.S. persons, except to “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A of the Securities Act or to non-U.S. persons in offshore transactions in reliance on Regulation S of the Securities Act. This Listing Document may not be used for the purposes of an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. This Listing Document does not constitute an offer or an invitation to subscribe for or purchase any Notes and should not be considered as a recommendation by the Issuer that any recipient of this Listing Document should subscribe for or purchase any Notes. Each recipient shall be taken to have made its own investigation and appraisal of the financial condition of the Issuer. Following admission to the SOL, the Issuer will cease its listing and admission to trading with Euronext Dublin. Additional Information The Issuer has incorporated by reference in this Listing Document certain information that it has made publicly available. The following information is incorporated by reference in this Listing Document: • The consolidated financial statements of Nets A/S (the Company) for the three months ended March 31, 2017; • The consolidated financial statements of the Company for the six months ended June 30, 2017; • The consolidated financial statements of the Company for the nine months ended September 30, 2017; • The audited consolidated financial statements of the Company for the year ended December 31, 2017; and • The consolidated financial statements of the Company for the six months ended June 30, 2018 (collectively, the Financial Statements). No other document is incorporated by reference in this Listing Document, except as expressly set forth above. The Financial Statements may be consulted at https://investor.nets.eu/reports-and- presentations. Other information contained on or accessible through the website of Nets A/S is not a part of this Listing Document. The Issuer does not prepare stand-alone financial statements. We accept responsibility for the information contained in this Listing Document. To the best of our knowledge, except as otherwise noted, the information contained in this Listing Document is true and accurate in all material respects and we are not aware of any other facts, the omission of which would make this Listing Document or any statement contained herein misleading in any material respect. There has been no material adverse change in the prospects of the Issuer since the date of the Company’s last published audited financial statements. On 5 February 2018, Evergood 5 AS announced its decision to complete a compulsory redemption of the shares in Nets A/S held by minority shareholders (the P2P). The last day of trading and official listing of the shares in Nets A/S on Nasdaq Copenhagen A/S was 12 February 2018. Following the P2P, the Issuer made a change of control tender offer to holders of the Notes, after which an aggregate principal amount of €219,584,000 remained outstanding. On 26 April 2018, pursuant to a supplemental indenture dated as of the date thereof, Evergood Lux 3 S.à r.l., Evergood Lux 4 S.à r.l., Evergood 1 ApS, Evergood 2 ApS, Evergood 3 ApS, Evergood 4 ApS, Evergood 5 AS and Nassa A/S acceded as additional guarantors under the Notes indenture, dated as of 6 April 2017, by and among, inter alios, the Issuer, the guarantors party thereto and Deutsche Trustee Company Limited, as trustee. • Evergood Lux 3 S.à r.l. is a holding company with registered address at 5, rue Guillaume Kroll L-1882 Luxembourg. • Evergood Lux 4 S.à r.l. is a holding company with registered address at 5, rue Guillaume Kroll L-1882 Luxembourg. • Evergood 1 ApS is a holding company with registered address at c/o Kromann Reumert Sundkrogsgade 5, 21000 København, Denmark. • Evergood 2 ApS is a holding company with registered address at c/o Kromann Reumert Sundkrogsgade 5, 21000 København, Denmark. • Evergood 3 ApS is a holding company with registered address at c/o Kromann Reumert Sundkrogsgade 5, 21000 København, Denmark. 2 • Evergood 4 ApS is a holding company with registered address at c/o Nets A/S Lautrupbjerg 10, 2750 Ballerup, Denmark. • Evergood 5 AS is a holding company with registered address at c/o Nets Branch Norway Haavard Martinsens vei 54 0978 OSLO, Norway • Nassa A/S is a holding company with registered address at Lautrupbjerg 10, 2750 Ballerup, Denmark. 3 OFFERING MEMORANDUM Nassa Topco AS €400,000,000 2.875% Senior Notes due 2024 Nassa Topco AS, a private limited liability company incorporated under the laws of Norway (the “Issuer”), is offering €400.0 million in aggregate principal amount of its 2.875% Senior Notes due 2024 (the “Notes”). Interest on the Notes will be payable semi-annually in arrear on each January 15 and July 15, beginning on January 15, 2018. The Notes will mature on the Business Day immediately following April 6, 2024. We will be entitled at our option to redeem all or a portion of the Notes (i) at any time prior to the date that is three months prior to the maturity of the Notes at a redemption price equal to 100 percent of the principal amount thereof, plus the applicable “make whole” premium as set forth in this offering memorandum (the “Offering Memorandum”) and (ii) thereafter at a redemption price equal to 100 percent of the principal amount of the Notes, plus in each case accrued and unpaid interest and additional amounts, if any, to the date of redemption. Upon the occurrence of certain events constituting a change of control and a ratings event, the Issuer will be required to offer to repurchase the Notes at 101 percent of the principal amount thereof, plus accrued and unpaid interest and additional amounts, if any. In the event of certain developments affecting taxation, the Issuer may redeem the Notes in whole, but not in part, at any time, at a redemption price of 100 percent of their principal amount, plus accrued and unpaid interest and additional amounts, if any. The Notes will be the Issuer’s general, senior unsecured obligations and will, upon issuance, (i) rank pari passu in right of payment with all of the Issuer’s existing and future senior unsecured obligations that are not subordinated in right of payment to the Notes, including obligations under the Facilities Agreement; (ii) rank senior in right of payment to all of the Issuer’s future obligations that are expressly subordinated in right of payment to the Notes, if any; (iii) be effectively subordinated to any existing and future secured obligations of the Issuer, the Parent Guarantor and the Subsidiaries of the Parent Guarantor to the extent of the value of the property and assets securing such obligations; (iv) be structurally subordinated to all obligations of the Parent Guarantor’s Subsidiaries that do not guarantee the Notes; and (v) be guaranteed by the Guarantors (as defined below), subject to contractual limitations that reflect limitations under applicable law. The Parent Guarantor and certain subsidiaries of the Parent Guarantor (together the “Guarantors”) will, subject to contractual limitations that reflect limitations under applicable law, jointly and severally guarantee the Notes (the “Guarantees”). The Guarantees will be senior unsecured obligations of the Guarantors and will (i) rank pari passu in right of payment with all existing and future senior unsecured obligations of such Guarantor that are not expressly subordinated in right of payment to such Guarantor’s Guarantee, including obligations under the Facilities Agreement; (ii) rank senior in right of payment to all future obligations of such Guarantor that are expressly subordinated in right of payment to such Guarantor’s Guarantee, if any; and (iii) be effectively subordinated to all existing and future secured obligations of such Guarantor to the extent of the value of the property and assets securing such obligations. Not all of the Parent Guarantor’s Subsidiaries will guarantee the Notes.