Placement of a bond issue for Gefion Group successfully completed within 6 hours

Issue amount: DKK 100m

Fixed interest rate: 12 % p.a.

Maturity: 24 months (with a 6-months extension option)

The DKK 100m bond issue within the frame of up to DKK 150m for Gefion Group, through the subsidiary Gefion Group Holdco ApS, has been successfully completed within 6 hours. JOOL Markets AS acted as Sole Manager and Bookrunner for the bond issue.

The bond, maturing in March 2020, bears a fixed coupon of 12 per cent p.a. with quarterly interest payments. The bond is secured through 1st priority pledge over all shares issued by the Issuer, 1st priority pledge over all shares issued by a Property Holding Company, 1st priority pledge over all Issuer Intercompany Loans, 1st priority pledge over the accounts (Parent’s Operating Account, Interest Retention Account, Blocked Account) and full guarantee from Gefion Group A/S and Gefion Group Ejendomsudvikling K/S.

The transaction proceeds from the bond issue will be used for intercompany loan to Gefion Group A/S, to purchase Gefion Group A/S claims against project companies, general corporate purposes, interest retention account and transaction costs.

Grette law firm acted as legal advisors and Intertrust (Norway) AS as bond trustee. The bonds will be registered through Euroclear Sweden (SEK) and VPS Norway (NOK and EUR bonds).