Selvaag Bolig ASA: To redeem its NOK 500 million bond issue one year early
Selvaag Bolig has elected to exercise its call option for early redemption in full of its NOK 500 million senior unsecured callable bond issue 2013/2018, ISIN NO 001 068372.5, maturing on 27 June 2018, at 102% of par value.
The early redemption of the bond will occur on 27 June 2017.
"Our profits and liquidity have developed very positively, and we will have good revenues and results in the time to come," explains Selvaag Bolig CEO Baard Schumann.
"This means we have the financial freedom of action we need without the bond loan, and we're redeeming it a year before it finally matures."
By redeeming the bond loan, the company will achieve an annual saving of about NOK 26 million.
Further information from
Baard Schumann, CEO, Selvaag Bolig ASA
Telephone: +47 940 80 000, e-mail: bs@selvaagbolig.no
Sverre Molvik, CFO, Selvaag Bolig ASA
Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no
Selvaag Bolig ASA is a residential property developer controlling the entire value chain from acquisition of land to sale of homes. The company has several thousand homes under development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 60-year history and experience, and offers a broad variety of property types marketed under the brand names Start, Hjem and Pluss. The company is headquartered at Ullern in Oslo.