Press release -
Placement of a bond issue for Gemma Properties successfully completed in less than 3 hours
Issue amount: SEK 125 M
Fixed interest rate: 8 % p.a.
Maturity: 12 months (with a 6-month extension option)
The SEK 125 M bond issue for Gemma Properties Holding AB has been successfully completed in less than 3 hours. JOOL Markets AS acted as Sole Manager and Bookrunner in the bond issue.
The bond, maturing in November 2018, bears a fixed coupon of 8 per cent p.a. (bullet). The bond is secured through pledge over downstream loans, which in turn are secured by first priority property pledge of SEK 125 M over the properties owned by Tandådalen 1 & 2.
The transaction proceeds will be used for construction financing, refinance short term debt (used for construction financing) and transaction fees. The bonds are intended to be repaid through the proceeds from the sale of completed projects.
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.
