Genova successfully completes issue of additional green senior unsecured bonds of MSEK 150 under outstanding green framework
Summary
NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, UNITED KINGDOM, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SINGAPORE, SOUTH AFRICA OR NEW ZEELAND OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES IN ACCORDANCE WITH APPLICABLE LAW.Genova Property Group AB (publ) ("Genova") has today successfully placed green subsequent senior unsecured bonds of MSEK 150 with maturity on 16 November 2026 under its green bonds framework of MSEK 750 with ISIN SE0018397705 (the "Green Subsequent Bonds"). Following the issuance of the Green Subsequent Bonds, a total nominal amount of MSEK 650 will be outstanding under the framework. The Green Subsequent Bonds will be issued at a price of 101.604% of the nominal amount corresponding to a coupon of 3-month STIBOR plus 525 basis points. "The proceeds from the bond issue will enable continued value-creating investments and reinforce our efforts to improve Genovas capital structure. It is particularly positive that institutional investors approached Genova for the opportunity to invest in our securities", comments Michael Moschewitz, CEO of Genova.An amount equal to the net proceeds of the Green Subsequent Bonds will be used in accordance with Genovas green finance framework.Advisors Arctic Securities and Nordea Bank Abp have acted as arrangers and joint bookrunners in respect of the issuance of the Green Subsequent Bonds.