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KMC Properties calls NOK 1.85 billion of secured bonds at 101 on July 20
By Mary-Katherine Stinson
Lexington, Ky., July 6 – KMC Properties ASA will redeem all outstanding bonds from its NOK 1.85 billion senior secured floating-rate bonds 2020/2023 (ISIN: 00010908163) at 101 plus accrued interest on the call option repayment date of July 20, according to multiple notices.
Nordic Trustee AS is the bond trustee.
July 18 is the record date.
The bonds were issued on Dec. 10, 2020 and were scheduled to mature Dec. 11, 2023.
KMC will cancel NOK 674 million of bonds, received as in-kind payment from investors, before the call option repayment date.
The investors received a rollover premium of 1.25% in KMC’s new NOK 900 million senior secured bond issued July 6.
Additionally, on June 30, KMC Properties announced that the company had secured full refinancing, including a reduction of the company’s overall interest margin.
KMC Properties is an Oslo-based real estate company focusing on industrial and logistic properties in the Nordics and the Netherlands.
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