NPRO: Norwegian Property ASA - Contemplating NOK bond issuance

Norwegian Property ASA, rated BBB- (Negative outlook) by Scope, has mandated SpareBank 1 Markets for the potential issuance of a NOK denominated senior secured bond with floating or fixed rate coupon, subject to market conditions. Targeted tenor between 3 and 5 years. Swedbank, which is one of NPRO's relationship banks, is acting as advisor in the transaction.

The contemplated bond issue will be secured with a first priority pledge in Drammensveien 60, at Skillebekk in Oslo.

For further information, please contact:

Haavard Rønning, CFO, Mobile +47 400 20 019
 

Norwegian Property is a focused and fully integrated office property company with properties located mainly in the Oslo area in Norway. The portfolio is characterized by central location and attractive premises with 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.

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