Press release -
Placement of a bond issue for Gefion Group successfully completed within 14 minutes
Subsequent bond issue: DKK 50m
YTM – 10.5% p.a.
Maturity: 24 months (+/- 6 months)
The DKK 50m subsequent bond issue within the frame of up to DKK 150m for Gefion Group, through the subsidiary Gefion Group Holdco ApS, was successfully completed within 14 minutes. JOOL Markets AS acted as the Sole Manager and Bookrunner for the bond issue.
The bond, maturing in May 2020, bears a fixed coupon of 12 % p.a. with quarterly interest payments. Yield to maturity of 10.5 % p.a. (corresponding to a price of 103%) plus accrued interest. The bond has 1st priority pledge over all shares issued by the Issuer, 1st priority pledge over all shares issued by a Property Holding Company, 1st priority pledge over all Issuer Intercompany Loans, 1st priority pledge over the accounts (Parent’s Operating Account, Interest Retention Account, Blocked Account) and full guarantee from Gefion Group A/S and Gefion Group Ejendomsudvikling K/S.
The proceeds from the bond issue will be used for general corporate purposes including project development and potential project acquisitions, interest payment Niels JuelsGade, interest retention account and transaction costs.
Grette law firm acted as legal advisors and Intertrust (Norway) AS as bond trustee. The bonds will be registered through VPS Norway (NOK and EUR bonds) and Euroclear Sweden (SEK).
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JOOL Markets is an independent Nordic investment bank with a leading position in corporate bonds and fixed income instruments within NOK 30-200 million. JOOL Markets is seated in Oslo and employs more than 70 professionals working from our offices in Oslo, Bergen, Gothenburg, Stockholm and Helsinki.
JOOL Markets was established in 2015 and is a part of the JOOL Group.
