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Placement of a bond issue for the Gemma Group successfully completed in less than 2 hours

Press Release   •   Aug 29, 2017 13:40 CEST

Issue amount: SEK 50 M

Fixed interest rate: 12 % p.a.

Maturity: 18 months (with a 6-month extension option)

The SEK 50 M bond issue for the Gemma Group, through the subsidiary Gemma Utveckling 2017 AB, has been successfully completed in less than 2 hours. JOOL Markets AS acted as Sole Manager and Bookrunner in the bond issue.

The bond, maturing in March 2019, bears a fixed coupon of 12 per cent p.a. (paid semi-annually). The bond is secured through a pledge over all the shares issued by the Issuer and Gemma Properties Holding 14 AB, a parent company guarantee from the parent company and security over down- and upstream loans provided by the Issuer and other Group companies.

The transaction proceeds will be used for development costs, refinancing of existing loans, deposit of interest and transaction costs.

Roschier law firm acted as legal advisors and Intertrust (Sweden) AB as bond trustee. The NOK bonds will be registered through the VPS system while the SEK bonds will be registered through Euroclear Sweden.

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.