NPRO: SUCCESSFUL PLACEMENT OF NEW SECURED BONDS
Reference is made to the notification dated 23 October 2017. Norwegian Property ASA has today completed a dual tranche NOK 1,400 m senior secured bond issue. The proceeds will be used for refinancing of existing debt and general corporate purposes.
3Y floating rate note: NOK 400 m priced at 3m NIBOR+1.00% p.a.
5Y floating rate note: NOK 1,000 m priced at 3m NIBOR+1.35% p.a.
Nordea and SEB 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 15.0 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.