Telefonaktiebolaget LM Ericsson today set the spreads for its recently announced Bond Exchange Offer.
Under the terms of the Exchange Offer, as defined in the Exchange Offer Memorandum dated November 4, 2003, holders of the 6.375% Euro Medium Term Notes maturing May 31, 2006 (the "Notes") will be offered the opportunity to exchange up to EUR 0.5 billion of existing Notes for new Ericsson Exchange Securities.
Investors will be able to exchange their holdings in the Notes at a spread of 230 bps over the DBR 6.25% maturing April 26th, 2006.
The new Ericsson Exchange Securities will be priced to yield 285 bps over the DBR 5.25% maturing January 4, 2011.
The Exchange Price of the existing Notes and the coupon and price of the new Ericsson Exchange Securities will be fixed using the respective government benchmarks at 12:00 noon (London time) on November 21, 2003. In the meantime, 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.
This press release is not for publication or distribution in whole or in part, directly or indirectly, in or into the United States. This notice is intended to be communicated only to creditors of Ericsson and relates only to the Ericsson Securities and the Ericsson Exchange Securities.
Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.
Read more at http://www.ericsson.com/press
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Investor Relations
Phone: +46 8 719 6553, +46 730 371 100
Ericsson Media Relations
Phone: +46 8 719 1880, +46 8 719 69 92
Dealer Manager: J.P. Morgan Securities Ltd.
Paul Hawker - Liability Management Desk
Phone: +4420 7777 4185
Jonathan Brown - Syndicate Desk
Phone: +4420 7777 1986
Exchange Agent: JPMorgan Chase Bank
Phone: +4420 7777 2742
The communication of this document is not being made and the document has not been approved by an authorised person for the purposes of S21 of the Financial Services Act 2000. The Exchange Offer is open only to those persons falling within the definition of Investment Professionals (as defined in article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2001 (the "Order"), and those persons who also fall within Article 43 of the Order.
This press release is not being issued in the United States of America, Australia, Canada or Japan and should not be distributed to US persons or publications with a general circulation in the United States. This document does not constitute an offer or invitation to subscribe for or purchase any of the securities referred to herein. In addition, the securities referred to herein have not been registered under the United States Securities Act of 1933, as amended and may not be offered, sold or delivered within the United States or to or for the account or benefit of US persons absent registration under, or an applicable exemption from, the registration requirements of the United States Securities Act.