By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – Norway’s Olav Thon Eiendomsselskap ASA priced NOK 1.5 billion of senior floating-rate bonds in three tranches, according to a notice.
The company priced a NOK 300 million tap issue of its floating-rate bonds due Dec. 14, 2023 at a price corresponding to three-month Nibor plus 60 basis points. The company priced the original NOK 500 million of the bonds on Dec. 7.
Olav Thon also priced NOK 600 million of five-year floaters with a coupon of three-month Nibor plus 87 bps.
The company also priced NOK 600 million of seven-year floaters with a coupon of three-month Nibor plus 107 bps.
Danske Bank, Nordea and SEB are the joint lead managers for the issuance, which will be used for general corporate purposes, including refinancing existing debt.
The commercial real estate company is based in Oslo.
| Issuer: | Olav Thon Eiendomsselskap ASA
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| Amount: | NOK 1.5 billion
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| Description: | Floating-rate senior bonds
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| Lead managers: | Danske Bank, Nordea and SEB
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| Pricing date: | Feb. 16
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|
|
| 2023 add-on
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| Amount: | NOK 300 million
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| Maturity: | Dec. 14, 2023
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| Yield: | Nibor plus 60 bps
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| Original issue: | NOK 500 million priced on Dec. 7
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| Five-year bonds
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| Amount: | NOK 600 million
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| Maturity: | 2026
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| Coupon: | Nibor plus 87 bps
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|
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| Seven-year bonds
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| Amount: | NOK 600 million
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| Maturity: | 2028
|
| Coupon: | Nibor plus 107 bps
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