Genova Property Group AB (publ) (”Genova”) announced on Monday 23 September the successful completion of its SEK 525 million Senior Unsecured Bond Issue (the “Bond Issue”) with maturity in September 2023. The bonds will have a coupon of 3 month STIBOR plus 525 basis points per annum, and will be applied for listing on Nasdaq Stockholm Corporate Bond List.
The transaction was successfully placed among quality investors mainly in the Nordics. In connection with the Bond Issue, Genova repurchases bonds amounting to SEK 341 million of the SEK 500 million of its existing senior unsecured bonds with maturity in April 2021. ABG Sundal Collier acted as Joint Bookrunner for Genova in connection with the Bond Issue.
Genova, founded in 2006, owns, manages and develops properties primarily in Greater Stockholm and Uppsala. As per 30 June 2019, the portfolio value amounted to SEK 3.1bn, with a property portfolio of SEK 2.7bn, and a project portfolio of SEK 0.4bn.

Published: 30 Sep, 2019