Press release -
Placement of a bond issue for Gemma Utveckling 2016 AB (publ) successfully completed in approximately 24 hours
Issue Amount: approximately SEK 140 Million
Fixed Interest Rate Coupon: 13.00 %
Maturity: 24 months (with a 6 month extension option)
The bond offering for Gemma Utveckling 2016 AB (publ) has been successfully completed. The bond offer has a total nominal amount of approximately SEK 140 million divided into two currency classes; SEK and NOK. JOOL Markets AS acted as financial advisor and bookrunner and managed to successfully place the bond issue - that attracted a lot of interest – within approximately 24 hours from launch. The bonds have a maturity of 24-months (with a 6 month extension option) and a fixed interest rate of 13.00 % p.a. with semi-annually interest payments.
The bond issue is secured through a guarantee from the parent company of the issuer as well as with pledges over shares, an interest retention account, receivables and intragroup loans. The proceeds from the bond issue will be used for property acquisitions, upstream loan to the parent company, interest retention, general corporate purposes and payment of transaction costs.
Roschier law firm acted as legal advisors and Intertrust (Sweden) AB as bond trustee. The bonds will be registered through the Norwegian VPS system.
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JOOL Capital Partner AB structures financial products, focusing mainly on corporate bonds and fixed income investments. Headquartered in Gothenburg, Sweden, we are also represented in Stockholm, Oslo, Bergen, Singapore and Abu Dhabi. JOOL is a market leader in the Nordic corporate bond market within the SEK 30–200 million segment. We are a wholesale distributor of alternative investment products with over 150 partners world wide and we are catering global distribution platforms, such as Institutions, Private Banks, IFA's and Family Offices. Through the JOOL Markets AS subsidiary, JOOL is authorized by the Norwegian Financial Service Authority to carry out a broad range of investment services and associated activities in Norway, Sweden, Denmark, Finland, Great Britain and Germany.
