Under the terms of the Exchange Offer, holders of the 6.375% Euro Medium Term Notes maturing May 31, 2006 (the "Notes") will be offered the opportunity to exchange existing Notes for new Ericsson Exchange Securities maturing in November, 2010.
The securities, as defined in the Exchange Offer Memorandum dated November 4, 2003, will be issued under the Company's existing Euro Medium Term Note Program.
The Exchange Offer is limited to an exchange of up to EUR 0.5 billion of the Notes. The Exchange Offer is open only to institutional investors qualifying as Eligible Participants, as defined in the Exchange Offer Memorandum.
"We want to capture this good market opportunity for a liability management transaction, which gives us a more optimal debt structure and flexibility," says Vidar Mohammar, Ericsson Corporate Treasurer. "The Exchange Offer is further evidence that Ericsson is prudently managing its balance sheet."
The exchange price of the existing Notes and the coupon and price of the new Ericsson Exchange Securities will be fixed at 12:00 noon (London time) on November 21, 2003. The Holders of the existing Notes are asked to submit acceptances to the Exchange Agent no later than 5:00 pm (London time) on November 25, 2003.
JPMorgan will act as Dealer Manager of the Exchange Offer, with ABN Amro, Citigroup and Deutsche Bank as Co-Managers.
For more detailed information: www.ericsson.com/investors/
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