Financing2019-11-28T13:48:03+00:00

FINANCING

FINANCING

Norwegian Property has established as part of its finance policy that the LTV level should be between 45-55%.

The company’s goal is to reduce refinancing risk through a diversified maturity profile.

Funding sources are split between bank loans and bonds. As real estate is a capital-intensive business, it is essential for the company to maintain good relations with several large banks, active and stable in the Norwegian market.

Since 2014 the bond market has become an increasingly important funding source to Norwgeian Property.

By the end of Q2-2019 the split was 12% bank loans and 88% bonds.

Split on bank loans and bonds 2019-Q3

Maturity profile October 2019

Below is a list of outstanding bonds:

Below is a list of outstanding bonds:

ISIN nr Name Document (links) Amount Interest Maturity Mortgaged property
NO 0010864952 NPRO 16 Securities Note 505 mnok 2.666% 2019-2024 Bryggegata 7-9 and Støperiet
Registration Document 2019.09.16
NO 0010856826 NPRO 15 Securities Note 300 mnok FRN 2019-2024 Kaibygg 1
NO 0010856818 NPRO 14 Securities Note 150 mnok 3.05% 2019-2026 Kaibygg 1
NO 0010856719 NPRO 13 Securities Note 500 mnok FRN 2019-2022 Kaibygg 1
NO 0010809346 NPRO 12 Securities Note
Tap Issue Addendum
400 mnok
71 mnok
FRN 2017-2020 Terminalbygget
NO 0010809338 NPRO 11 Securities Note
Tap Issue Addendum
1 000 mnok
230 mnok
FRN 2017-2022 Terminalbygget
NO 0010805104 NPRO 10 Securities Note 570 mnok 2,525 % 2017-2022 Gullhaugveien 9-13
NO 0010799547 NPRO 09 Securities Note 300 mnok 2,93 % 2017-2024 Drammensveien 60
NO 0010794258 NPRO 08 Securities Note 450 mnok 2,95 % 2017-2024 Fondbygget
NO 0010794241 NPRO 07 Securities Note with Amendment Agreement
Tap Issue Addendum
220 mnok
89 mnok
FRN 2017-2024 Fondbygget
Supplement to Registration Document 2017.06.26
NO 0010768195 NPRO 06 Securities Note 1 335 mnok FRN 2016-2020 Verkstedhallene
Registration Document 2017.01.03