Magnolia Bostad issues bond of SEK 400 million
Magnolia Bostad AB issues a 5-year senior unsecured bond loan of SEK 400 million pursuant to a bond frame up to SEK 1 billion.
The bond has a coupon of STIBOR 3M + 7.25 percent, without a STIBOR-floor, with quarterly interest payments and final maturity in October 2021. Magnolia Bostad will apply for listing of the bond on Nasdaq First North with a subsequent transfer of listing to Nasdaq Stockholm no later than 1 year after settlement.
The bond issue was placed successfully among the mainly Swedish investors, supported by further demand from other Nordic countries and continental Europe and the United States. Altogether, approximately 100 investors in the heavily oversubscribed issue.
The proceeds will be used partly for refinancing of outstanding bond, but mainly for general corporate purposes.
Pareto Securities acted as financial advisor in the transaction and Roschier has been the legal advisor to the Magnolia apartment.
For more information, please contact:
Fredrik Lidjan, CEO
+46 70-223 43 47, firstname.lastname@example.org
Erik Rune, VP
+46 073-399 40 30, email@example.com
Magnolia Bostad develops efficient, attractive and functional residential properties, including rental apartments, tenant-owned apartments and hotels, in attractive locations primarily in Sweden’s growth areas. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's share (MAG) is listed on Nasdaq First North. Erik Penser Bank is the Certified Adviser for the Company. More information is available at www.magnoliabostad.se