Magnolia Bostad repurchases bonds and announces its intention to carry out further repurchases
Magnolia Bostad announced today that repurchases have been made of secured bonds with a nominal value of SEK 41,4.
The repurchase relates to secured bonds, ISIN: SE0008293823 (the secured bonds) issued by Magnolia Bostad AB (publ) with a nominal outstanding amount of SEK 450,000,000. The bonds have a floating rate corresponding to STIBOR 3m plus 6.25% and fall due in April 2020. The average purchase price for the bonds corresponds to 99,55 % of the nominal amount. After the repurchase, Magnolia Bostad's holding of the secured bonds amounts to a nominal value of SEK 61,2.
”Magnolia Bostad has good liquidity and will continue to repurchase bonds with the aim of reducing the company's long-term financial costs,” says Fredrik Westin, CFO of Magnolia Bostad
Subject to overall availability in the bond market, Magnolia Bostad intends to continue to repurchase the secured bonds up to the full remaining outstanding amount, up to and including the final maturity date on 28 April 2020. For this purpose, Magnolia Bostad has mandated Pareto Securities to handle such repurchases on behalf of the company.
For assistance regarding the sale of secured bonds, please contact:
Anders Høyem, Head of Fixed Income Sales, Pareto Securities
+47 452 04 033, anders.hoyem@paretosec.com
For more information, please contact:
Fredrik Westin, CFO
+46 8- 470 50 80, fredrik.westin@magnoliabostad.se
Marita Björk, IR and Financial Media Manager
+46 72 720 00 06, marita.bjork@magnoliabostad.se
Magnolia Bostad AB, CIN 556797-7078 develops new residential properties, including rental apartments and tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden's growth areas and major cities. Our work is based on a holistic approach where the operations are conducted in a way that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.se