By Angela McDaniels
Tacoma, Wash., April 8 – Telefonplan Stockholm Property AB extended the maturity of its 10% secured bonds by one year to May 2017 and issued an additional SEK 50 million of the bonds at 100.75 to existing bondholders, according to a news release from bookrunner and issuing agent Pareto Securities AB.
The Stockholm-based company extended the maturity, because the process to rezone its two properties, Timotejen 19 and Timotejen 28, from commercial to residential is taking longer than expected.
The proceeds of the add-on will be used to fund interest payments under the bonds and the company’s bank loan for the extended tenor of the bonds.
The company issued SEK 250 million of the bonds in May 2014. The total issue size is now SEK 300 million.
The bonds are callable in whole at 102% of par beginning May 23. If the notes are not called, they will be repaid at 102% of par at maturity.
The bonds are listed on Nasdaq First North.
| Issuer: | Telefonplan Stockholm Property AB
|
| Issue: | Secured bonds
|
| Amount: | SEK 50 million add-on
|
| Maturity: | May 22, 2017
|
| Coupon: | 10%, payable quarterly
|
| Price: | 100.75
|
| Payment at maturity: | 102% of par
|
| Call option: | At 102% of par beginning May 23
|
| Bookrunner: | Pareto Securities AB
|
| Settlement date: | April 7
|
| Original issue: | SEK 250 million
|
| Original settlement date: | May 22, 2014
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
