NPRO: ISSUES 5 YEARS BOND
Norwegian Property ASA has issued a new 5 year bond totaling NOK 350 million.
The loan is issued with an interest of 3 month NIBOR + 0.98 % p.a. The loan is secured by first priority pledge in the properties Bryggegata 7-9 and Holmensgate 1 (Støperiet) based on an LTV of about 66 per cent.
The bond has been issued with payment 2 October 2014. The purpose of the bond is refinancing of the property at favorable terms, and the bond contributes to further diversification of the group’s financial funding.
Norwegian Property will apply for listing on Oslo Stock Exchange of the bond.
Nordea Markets, Nordea Bank Norge ASA and SEB are arrangers for the loan.
For further information, please contact:
Norwegian Property ASA
Svein Hov Skjelle, CFO
Telephone: +47 930 55 566