By William Gullotti
Buffalo, N.Y., May 25 – Bane NOR Eiendom AS issued NOK 1.55 billion of green bonds in three tranches on Tuesday, according to a notice on Thursday.
The overall issue is comprised of two tranches of floating-rate bonds and one tranche of fixed-rate bonds.
The NOK 300 million tranche of three-year floaters carries a coupon of Nibor plus 115 basis points.
The second tranche of floaters, totaling NOK 450 million with a 5.5-year tenor, carries a coupon of Nibor plus 141 bps.
The fixed-rate tranche is NOK 800 million of six-year bonds with a 5% coupon.
In connection with the bond issue, the company bought back NOK 159 million bonds due June 28, 2023 (ISIN: ISIN NO0010826639) and NOK 275 million bonds due June 27, 2025 (ISIN: NO0010826647).
Nordea was the bookrunner for the “highly oversubscribed” issuance.
The residential real estate developer is based in Oslo.
| Issuer: | Bane NOR Eiendom AS
|
| Amount: | NOK 1.55 billion
|
| Issue: | Green bonds
|
| Bookrunners: | Nordea
|
| Issue date: | May 23
|
|
|
| Three-year floaters
|
| Amount: | NOK 300 million
|
| Tenor: | Three years
|
| Coupon: | Nibor plus 115 bps
|
|
|
| 5.5-year floaters
|
| Amount: | NOK 450 million
|
| Tenor: | 5.5 years
|
| Coupon: | Nibor plus 141 bps
|
|
|
| Six-year notes
|
| Amount: | NOK 800 million
|
| Tenor: | Six years
|
| Coupon: | 5%
|
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