By Taylor Fox
New York, March 2 – OBOS BBL priced a total of NOK 1.5 billion of senior bonds in two tranches, according to a news release.
The company priced NOK 500 million of five-year bonds with a coupon of Nibor plus 87 basis points and NOK 1 billion of seven-year bonds with a coupon of Nibor plus 109 bps.
The transaction was substantially oversubscribed, the issuer noted.
Danske Bank and SEB are the joint lead managers.
Funds from the new bonds will be used for general corporate purposes.
The company said it repurchased NOK 124 million of its existing bonds due 2021 (ISIN: NO0010763741) in connection with the new bond issue.
OBOS is real estate service provider is based in Oslo.
| Issuer: | OBOS BBL
|
| Issue: | Senior bonds
|
| Amount: | NOK 1.5 billion
|
| Managers: | Danske Bank and SEB
|
| Announcement date: | March 2
|
|
|
| Five-year bonds
|
| Amount: | NOK 500 million
|
| Maturity: | Five years
|
| Coupon: | Nibor plus 87 bps
|
|
|
| Seven-year bonds
|
| Amount: | NOK 1 billion
|
| Maturity date: | Seven years
|
| Coupon: | Nibor plus 109 bps
|
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