Pareto advises Telefonplan Stockholm Property AB (publ) on their amendment of terms and successful subsequent bond issue of SEK 50 million

Pareto Securities AB has advised Telefonplan Stockholm Property AB (publ) (“Telefonplan”), the owner of the two properties Timotejen 19 and Timotejen 28 at Telefonplan in Stockholm, on their successful completion of an amendment of terms and a subsequent issue of bonds under the existing bond loan.

Through the amendments, Telefonplan has prolonged the existing bond loan with 12 months following a longer than expected zoning plan process to re-regulate its properties into mainly residential use. Further, the amendments allows for Telefonplan to issue subsequent bonds of up to SEK 50 million to fund interest payments under the bond loan and the bank loan for the extended tenor of the bonds. The subsequent bond issue was initiated and successfully completed on 7 April after the book had been significantly oversubscribed. The issue was priced at 100.75% and was placed among existing bondholders.

 

The bonds, maturing in May 2017 as amended, bears a fixed coupon of 10.00% (paid quarterly) and are listed on Nasdaq First North.  

 

With the extended maturity of the bonds and additional funds in place, Telefonplan Stockholm Property will direct all focus on the current zoning plan process” says Curt Ahnström, CEO of Telefonplan Stockholm Property.

 

For more information please contact Mats Carlsson, CEO, at +46 8 402 52 86

 

Pareto Securities AB is part of the Pareto Securities group. Pareto Securities is an independent investment bank focused on the Nordic market. Pareto Securities offers Nordic and non-Nordic institutions, companies and private individuals investment services related to trading in stocks, derivatives and fixed income instruments, equity research and advisory services within corporate finance. The Pareto Securities group has a total of more than 400 employees, with its headquarters in Oslo and offices in Sweden (Stockholm and Malmö), Norway, Denmark, Finland, United Kingdom, France, USA, Canada, Singapore and Australia.

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Pareto Securities is an independent full service investment bank with a leading position in the Nordic capital markets and a strong international presence within the energy sector. Pareto Securities AB offers Swedish and foreign institutions, companies and private individuals investment services related to trading in stocks, shares in SPV’s and fixed income instruments, wide coverage both within equity- and credit research. Furthermore, Pareto Securities corporate finance offers ECM, M&A and DCM services as well as arrangement and syndication of new investment projects, arrangement and syndication of sale and leaseback structures within real estate, infrastructure and shipping/offshore. Pareto Securities AB is part of the Pareto Securities group and is headquartered in Oslo, Norway, with more than 400 employees located in offices in Norway, Sweden, Denmark, Finland, United Kingdom, France, Germany, Switzerland, USA, Singapore and Australia.