Press release -
Placement of a bond tap issue for Holmetjern Invest AS successfully completed
Issue amount: NOK 50m
Floating interest rate: 3 months NIBOR + 7% p.a.
Maturity date: 16 February 2022
The NOK 50m bond tap issue for Holmetjern Invest AS has been successfully completed. JOOL Markets AS acted as Sole Manager and Bookrunner for the bond issue.
The bond issue has a floating interest rate of 3 months NIBOR + 7% p.a. with quarterly payments and maturity date on 16 February 2022.
The proceeds from the bond issue will be used to finance the acquisition and development of new projects and transaction costs.
The bond issue is secured with pledge over all shares in Holmetjern Invest AS. The financial covenants of the loan restrict the net LTV on a consolidated basis to be more than 65% and the Issuer must have a liquidity of at least NOK 20 000 000 at all times during the tenor of the bond.
Grette law firm acted as legal advisors and Nordic Trustee as bond trustee. The bonds will be registered through VPS Norway.
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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.
