Norwegian Property ASA has issued new 4 years bonds totaling NOK 455 million.

The bonds have dual tranches with one fixed rate tranche of NOK 205 million and one floating rate tranche of NOK 250 million. The tranches have coupons of 3.7% and 3 month NIBOR + 1.50 % p.a. respectively. The bonds are secured by pledges in the property Gullhaugveien 9-13 based on an LTV of about 65 per cent.

The bonds have been issued with settlement date 27 November 2013 and final maturity on 5 January 2018. The purpose of the bond issuance is refinancing of existing bank debt and further diversification of the groups funding sources.

Norwegian Property will apply for listing of the bonds on Oslo Stock Exchange.

Nordea Markets and SEB are arrangers for the bond offering.

For further information, please contact:

Norwegian Property ASA
Svein Hov Skjelle, CFO
Telephone: +47 930 55 566
Email: shs@npro.no