Genova contemplates to issue new green bonds and announces a voluntary tender offer of existing green bonds

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Genova Property Group AB (publ) (the “Company” or “Genova”) has mandated Carnegie Investment Bank AB (publ), Danske Bank A/S, Danmark, Sverige Filial and Swedbank AB (publ) as joint bookrunners to arrange fixed income investor meetings from and including 14 March 2025 to investigate the possibility to issue new senior unsecured floating rate green bonds with an expected issue amount of SEK 650 million and a tenor of 3.25 years under a total framework amount of SEK 750 million (the “New Green Bonds”). A capital market transaction may follow, subject to, among other things, prevailing market conditions.

In connection with the contemplated transaction, Genova offers the holders of the Company’s outstanding senior unsecured green bonds with ISIN SE0018397705 (the “Outstanding Bonds”) to participate in a tender offer in which the Company will repurchase Outstanding Bonds for cash (the “Tender Offer”) at a price of 102.5 per cent. of the nominal amount for the Outstanding Bonds plus accrued and unpaid interest. The Outstanding Bonds will be repurchased subject to the terms described in the tender information document dated 13 March 2025 (the “Tender Information Document”).

Holders of Outstanding Bonds who accept the Tender Offer will be eligible to receive a priority in the allocation of the New Green Bonds, subject to the terms set out in the Tender Information Document. The Tender Offer is conditional upon the consummation of an issue of the New Green Bonds. The Tender Offer expires upon book close of the book building process for the New Green Bonds, unless extended, shortened, re-opened, withdrawn or terminated at the sole discretion of the Company. The Company will announce the expiration date for the Tender Offer as soon as possible after the opening of the book building process for the New Green Bonds, which is expected to take place no earlier than 19 March 2025. The settlement of the Tender Offer is expected to take place at the earliest on 1 April 2025.

The Tender Information Document is available on the following link: https://genova.se/investors/bonds/.

Genova intends to also redeem all Outstanding Bonds early on or about 16 May 2025 in accordance with the terms and conditions for the Outstanding Bonds at a redemption price of 101.785 per cent. of the total outstanding nominal amount plus accrued and unpaid interest, conditional upon the successful settlement of the New Green Bonds. Genova will announce such redemption via a press release and notice to the holders of the Outstanding Bonds.

The Company has mandated Carnegie Investment Bank AB (publ), Danske Bank A/S, Danmark, Sverige Filial and Swedbank AB (publ) to act as arrangers and joint bookrunners in respect of the issuance of the New Green Bonds and as dealer managers for the Tender Offer. Gernandt & Danielsson Advokatbyrå KB acts as legal advisor in connection with the issue of New Green Bonds and the Tender Offer.

For further information, please contact:
CEO, Michael Moschewitz, mobile +46 (0)70-713 69 39, [email protected]

About Genova
Genova Property Group AB (publ) is a dynamic property company with extensive expertise in various segments of the property market. The company aims to drive sustainable value growth through active property management, urban development, project development and property transactions in Sweden. As of 31 December 2024, Genova owned properties valued at approximately SEK 10.0 billion and the company held a substantial building rights portfolio. Genova’s share has been listed on Nasdaq Stockholm since 2020.

Genova – Smålandsgatan 12 – SE-111 46 Stockholm – www.genova.se