REC - offer to repurchase REC01, REC02 and REC03 bonds

Sandvika, October 21, 2013: Renewable Energy Corporation ASA (REC) refers to previous communication relating to repurchase of certain of its outstanding bonds.

REC has previously announced an offer to repurchase a specified amount of its outstanding senior bonds (the "Offer"). The Offer is as follows:

  • up to 100% of the outstanding amount in the bond issue REC01 (ISIN: NO 001 0536501), and
     

  • up to 67% of the outstanding amount in the bond issues REC02 and REC03 (ISIN: NO 001 0607484 and ISIN: NO 001 0607476). 

The offering price is 100.00 percent for REC02 and REC03 and 103.00 percent for REC01 (plus accrued and unpaid interest) with settlement date expected to be on or about November 5, 2013. Bondholders will receive settlement in the form of cash payment. Minimum application and allocation is NOK 500,000 of nominal for each of the bonds. The repurchase will be carried out on a pro rata basis between the bonds to the extent technically possible.

The Offer commences immediately and expires at 17:00 CET on October 31, 2013 (the "Offer Period"). Allocation is expected to be communicated before end of business on November 1, 2013. Please note that the completion of the Offer is subject to the successful completion of the previously announced equity offering in and the listing of REC Solar ASA.

Arctic Securities has been engaged as advisor and receiving agent in connection with the Offer. In order to accept the Offer, relevant bondholders must contact Arctic Securities before the end of the Offer Period. Any questions related to the Offer can be directed to Fabian Qvist at Arctic Securities (tel.: +47 2101 3191 / e-mail: fabian.qvist@arcticsec.no).

About REC

REC is a leading global provider of solar electricity solutions. With nearly two decades of expertise, we offer sustainable, high-performing products, services and investment opportunities for the solar and electronics industries. Together with our partners, we create value by providing solutions that better meet the world's growing electricity needs. Our 2,300 employees worldwide generated revenues of more than NOK 7 billion in 2012, approximately EUR 1 billion or USD 1.3 billion. To see more of what REC can offer, visit www.recgroup.com.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.