Press release -
Placement of a bond issue for Oslo House Invest AS successfully completed
Issue amount: NOK 28 m
Fixed interest rate: 12 % p.a.
Maturity: 36 months
The NOK 28m bond issue for Oslo House Invest AS has been successfully completed. JOOL Markets AS acted as Sole Manager and Bookrunner for the bond issue.
The bond issue, which matures in December 2020, bears a fixed coupon of 12 per cent p.a. with quarterly interest payments. The bond issue has first priority share pledge over 100% of the shares in the issuer, pledge over all shares owned by the Issuer in the project companies, a guarantee from Oslo House AS and Oslo House Property AS and first priority pledge over the Interest Retention Account.
The transaction proceeds will be used as equity for the Moss Project, interest retention and transaction costs. The bonds are intended to be repaid through sale of the Moss Project.
Grette Advokatfirma AS acted as legal advisors and Intertrust (Norge) AS as bond trustee. The bonds will be registered through VPS Norway.
JOOL is an international investment bank focusing on corporate bonds and other high yield investments. With the power of global distribution and over 150 partners worldwide, JOOL is the market leader in Nordic SEK 30–200 m corporate bonds. Headquartered in Gothenburg, Sweden, JOOL also has offices in Oslo, Stockholm, Bergen, Helsinki, Singapore and Abu Dhabi.
JOOL Group