Zurich, April 26, 2024: Kongsberg Actuation Systems BV, a subsidiary of
Kongsberg Automotive ASA (KA), today published an Asset Disposition Offer to
purchase for cash Euro 36,000,000 of outstanding principal amount of its senior
secured notes due 2025 ("Notes").
KA has determined that Euro 36,000,000 of the Net Available Cash from the sale
of:
(i) The Interior Comfort Systems business unit to Lear Corporation,
(ii) The Light-Duty Cables business unit to Suprajit Engineering Limited and
(iii) A part of Kongsberg Automotive's operations in Shawinigan, Canada to BRP
constitutes "Excess Proceeds" under the indenture dated July 23, 2018 (the
"Indenture") - which requires that KA issues an Asset Disposition Offer. The
"Asset Disposition Offer Amount" shall be Euro 36,000,000.
The Asset Disposition Offer will expire at 16:00 GMT on May 28, 2024. Any Note
not tendered or accepted for payment will continue to accrue interest.
If the aggregate principal amount of Notes surrendered by holders thereof
exceeds the Asset Disposition Offer Amount, the Issuer will select the Notes to
be purchased on a pro rata basis based on the principal amount of Notes
surrendered.
Further information is published in the "NOTICE OF ASSET DISPOSITION OFFER".
Copies thereof can be obtained from:
The Bank of New York Mellon, London Branch
One Canada Square
London, E14 5AL
United Kingdom
Media and communications contact:
Therese Sjöborg Skurdal - Director Corporate Communications
therese.skurdal@ka-group.com
+47 982 14 059
Investor Relations contact:
Mads Langaard - Head of Investor Relations
mads.langaard@ka-group.com
+47 905 81 264
About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle
industry. We drive the global transition to sustainable mobility by putting
engineering, sustainability, and innovation into practice. Our product portfolio
includes driver and motion control systems, fluid assemblies, and industrial
driver interface products. Find more information
at:?kongsbergautomotive.com (https://www.kongsbergautomotive.com/)