NPRO: Norwegian Property ASA – Successful issuance of new bonds
Norwegian Property ASA (rated BBB‑ by Scope Ratings) has today issued NOK 700 million in new senior secured bonds. The transaction was split into two tranches: · A NOK 400 million, 3-year senior secured bond issue with a floating rate coupon of 3 months Nibor + 0.83% p.a. (ISIN NO0013756510). · A NOK 300 million, 5-year senior secured bond issue with a floating rate coupon of 3 months Nibor + 1.12% p.a. (ISIN NO0013756528). The net proceeds from the bond issue will be used to refinance existing debt and for general corporate purposes. Settlement is expected to take place on 25