Issue amount: SEK 65 M
Fixed interest rate: 11 % p.a.
Maturity: 20 months (with a 6-month extension option)
The SEK 65 M bond issue for Hultqvist Fastigheter AB, through the subsidiary Hultqvist Alfa AB (publ), has been successfully completed. JOOL Markets AS acted as Sole Manager and Bookrunner in the bond issue.
The bond, maturing in September 2020, bears a fixed coupon of 11 per cent p.a. with semi-annual interest payments. The bond is secured through pledge over all downstream loans granted by the Issuer to the Condominium Association, pledge over all shares in the Issuer, first priority property pledge over Sandsberg 1 in the form of mortgage certificates in an amount of SEK 15m, security over a bank account on which parts of the bond proceeds shall be deposited to be applied towards development and constructions costs and parent company guarantee from Hultqvist Fastigheter AB.
The transaction proceeds will be used for construction financing, retained interest, land acquisition and transaction fees.
Roschier law firm acted as legal advisors and Intertrust (Sweden) AB as bond trustee. The bonds will be registered through Euroclear Sweden (SEK and EUR bonds) and VPS Norway (NOK bonds).
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.