Realkapital European Opportunity seeks OK to extend bonds six months

By Toni Weeks

San Luis Obispo, Calif., March 13 - Realkapital European Opportunity AS would like to extend the maturity date of its senior secured callable bonds by six months to Dec. 17, 2014, according to a notice from bond trustee Norsk Tillitsmann ASA.

The company is offering a 500 basis point consent fee.

Realkapital said the extension will give it increased flexibility during its sales process. It has obtained pre-acceptance for the proposal from 43% of the voting bonds, according to the notice.

Holders will vote on the extension at a meeting in Oslo on March 28.

In order to approve the extension, the holders of at least half of the bonds must be represented at the meeting, and two-thirds of the bonds represented at the meeting must vote in favor of the extension.

Bondholders previously approved a one-year extension of the maturity date to June 24, 2014.

For more information, contact Morten Kampli (+47 970 287 81 or morten.kampli@obligoim.com).

Oslo-based Realkapital invests in European real estate markets excluding former Soviet republics.

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