NPRO: REFINANCING OF BANK LOANS

Norwegian Property ASA has entered into a new loan agreement with DNB Bank ASA and Danske Bank, Norwegian Branch. The agreement includes a Term Loan of MNOK 2 400 million and a Revolving Credit Facility of NOK 400 million. The loan will be used for refinancing existing loans with the same banks. The duration of the new loan agreement is 3 years. Skandinaviska Enskilda Banken AB and Nordea Bank Norge ASA have accepted change of control for Norwegian Property’s other bank loan facility.

For further information, please contact:
Norwegian Property ASA
Svein Hov Skjelle, CEO
Phone: +47 930 55 566
Email: shs@npro.no                     

Norwegian Property is a focused and fully integrated office property company with 32 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.0 billion, is characterized by central location and attractive premises 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.

Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.

www.npro.no