NPRO: SUCCESSFUL PLACEMENT OF NEW SECURED BONDS
Reference is made to the notification dated 5th of May 2017. Norwegian Property ASA has today issued a new NOK 670 million, 7 year senior secured bond, split into one fixed rate tranche of NOK 450m priced with a coupon of 2.95% and one floating rate tranche of NOK 220m priced with a coupon of 3 month NIBOR plus 1.44 % p.a, in the Norwegian bond market.
The proceeds will be used for general corporate purposes and refinancing of existing debt.
Nordea and SEB have acted as Joint Managers for the issuance.
For further information:
Ane Grimsmo, Finance Manager, tel +(47) 938 73 885
Norwegian Property is a focused and fully integrated office property company with 32 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.3 billion, is characterized by central location and attractive premises 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.