Meldinger
Norwegian Property ASA launching bonds
26.02.2007
Norwegian Property ASA announced in the fourth quarter report for 2006 an overall refinancing plan. One element of the refinancing is issuance of bonds in the Norwegian capital markets for an amount of approximately NOK 2.1 billion in order to refinance five of the group's properties, including two of the recently acquired Nydalen properties. As announced DnB NOR Markets, Fokus Markets, Nordea Markets and SEB Merchant Banking has been mandated as joint lead arrangers.
The transaction will consist of 2 tranches, and expected payment date of the bonds are 7 March 2007. Main terms are as follows:
Tranche 1
Temor: 5 years
Borrowing limit: NOK 1,726 million
Security: First priority pledge in designated properties
Rate: Floating rate note and/or Fixed rate
Tranche 2
Tenor: 3 years
Borrowing limit: NOK 431 million
Security: Second priority pledge in designated properties
Rate: Floating rate note
Average margin on the Group's total borrowings will be approximately 60 basis points after the issuance of the bonds.
For further information, please contact:
For Norwegian Property ASA:
CEO Petter Jansen, mobile + 47 900 98 728
CFO Svein Hov Skjelle, mobile + 47 930 55 566
For DnB NOR Markets:
Jan Krogh-Vennemo, Head of Fixed Income Sales, +47 22 01 77 89
Christian Ramm, Head of Debt Capital Markets, +47 22 01 77 61
For Fokus Markets:
Per Olav Glendrange , Head of Fixed Income Sales, +47 85 40 91 94
Knut R. Halden, Head of Debt Capital Markets, +47 22 01 77 61
For Nordea Markets:
Ole Christian Schjørn, Head of Fixed Income Sales, +47 22 48 77 85
Preben Stray, Chief Origination Manager , +47 22 48 78 04
For SEB Merchant Banking:
John Hoel, Fixed Income Sales, +47 22 82 72 65
Geir Sørflaten, Head of Credit Origination, +47 22 82 72 56