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Published on 1/22/2013 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Realkapital European Opportunity seeks OK to extend bonds to 2014

By Angela McDaniels

Tacoma, Wash., Jan. 22 - Realkapital European Opportunity AS would like to extend the maturity date of its senior secured callable bonds by one year to June 24, 2014, according to a notice from bond trustee Norsk Tillitsmann ASA.

The company is offering a 2% consent fee.

Realkapital said the extension will give it increased flexibility during its sales process.

The company does not expect to "take advantage of the extension for the full loan nor use the full duration of the extension," so it felt it fair to offer an up-front fee rather than increase the coupon for an "uncertain volume and duration," according to the notice.

Holders will vote on the extension at a meeting in Oslo on Feb. 7.

In order to approve the extension, the holders of at least half of the bonds must be represented at the meeting, and two-thirds of the bonds represented at the meeting must vote in favor of the extension.

For more information, contact Morten Kampli (+47 970 287 81 or morten.kampli@platou.com).

Oslo-based Realkapital invests in European real estate markets excluding former Soviet republics.


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