NPRO: Norwegian Property ASA - Successful Issuance of Senior Secured NOK Bonds

Norwegian Property ASA has today successfully issued a new senior secured NOK 545 million bond with 3 year tenor. The bond issue has a coupon of 3 months Nibor + 1.15% p.a. Settlemement is expected to take place on 1 October 2024, ISIN: NO0013350538. The net proceeds from the bond issue will be used to refinance NPRO 16 and for general corporate purposes.

In conjunction with the bond issues, the company has bought back NOK 390 million of NPRO 16 (ISIN NO0010864952).

DNB Markets acted as manager for the transaction.

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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