Genova successfully completes issue of additional green senior unsecured bonds of MSEK 150 under outstanding green framework
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Genova Property Group AB (publ) ("Genova") has today successfully placed green subsequent senior unsecured bonds of MSEK 150 with maturity on 16 November 2026 under its green bonds framework of MSEK 750 with ISIN SE0018397705 (the "Green Subsequent Bonds"). Following the issuance of the Green Subsequent Bonds, a total nominal amount of MSEK 650 will be outstanding under the framework. The Green Subsequent Bonds will be issued at a price of 101.604% of the nominal amount corresponding to a coupon of 3-month STIBOR plus 525 basis points. Genova intends to apply for admission to trading of the Green Subsequent Bonds on the sustainable bond list at Nasdaq Stockholm.
"The proceeds from the bond issue will enable continued value-creating investments and reinforce our efforts to improve Genova's capital structure. It is particularly positive that institutional investors approached Genova for the opportunity to invest in our securities", comments Michael Moschewitz, CEO of Genova.
An amount equal to the net proceeds of the Green Subsequent Bonds will be used in accordance with Genova's green finance framework.
Advisors
Arctic Securities and Nordea Bank Abp have acted as arrangers and joint bookrunners in respect of the issuance of the Green Subsequent Bonds. Gernandt & Danielsson Advokatbyrå KB has been legal advisor in the transaction.
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 modern property company with a personal touch that owns, manages and develops properties with focus on Greater Stockholm area and Uppsala Region. On 31 December 2023, the value of the company's property portfolio amounted to approximately SEK 9.9 billion with a lettable area of approximately 360,000 sqm and the company held approximately 8,800 building rights for residential units. Genova's share has been listed on Nasdaq Stockholm since June 2020.
Genova – Smålandsgatan 12 – SE-111 46 Stockholm – www.genova.se
