Innovasjonssenteret KS, a company controlled 80% by Norwegian Property ASA, has entered a 10-year loan facility with Nykredit for refinancing of Innovasjonssenteret's property in Oslo. The loan margin is effectively 33 basis points, which is significantly below Norwegian Property's average loan margin of 56 basis points. The facility is structured with a first priority loan from Nykredit Realkredit within 60% of the property's valuation and a second priority from Nykredit Bank for the rest of the financing. Annual amortisation is 0.5%, which will reduce the drawings on the second priority loan.

 

For additional information, contact

Norwegian Property, CFO Svein Hov Skjelle, mobil +47 930 55 566