NPRO: ISSUES 3 YEARS BOND
Norwegian Property ASA has issued a new 3 year bond totaling NOK 500 million.
The loan is issued with an interest of 3 month NIBOR + 1.30 % p.a. The loan is secured by first priority pledge in the properties Drammensveien 134 building 5 and building 6 based on an LTV of about 65 per cent.
The bond has been issued with payment 16 September 2013. The purpose of the bond is refinancing of the two properties, and will reintroduce Norwegian Property in the bond market.
Norwegian Property will apply for listing on Oslo Stock Exchange of the bond.
Danske Bank Markets and DnB Markets are arrangers for the loan.
For further information, please contact:
Norwegian Property ASA
Svein Hov Skjelle, CFO
Telephone: +47 930 55 566
Norwegian Property is a focused and fully integrated office property company with 42 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.5 billion, is characterized by central location and attractive premises with low vacancy and high quality tenants. The group’s properties consist largely of office premises, associated warehousing and car parking, as well as retail and catering space. The company has identified four value drivers for long-term value creation; Marketing & letting, Property management, Property development and Transactions & finance.
Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.