Northern Logistic Property (NLP) announces that the company has today successfully completed the previously announced refinancing of 4.087 MSEK. The refinancing includes all of the company`s 20 properties, with a total market value of 6.264 MSEK as per December 31 2012. The new group of lenders consists of two Swedish banks, Swedbank and Sparbanken Öresund, and two German banks, Aareal and Helaba. The refinancing, with a maturity structure of three to five years, ensures that NLP has a stable funding base and improves the conditions to finance future projects and investments. Prior to the refinancing the interest risk has further been reduced through extending existing interest rate swaps and signing of new agreements on interest rate caps, totaling approximately 1.300 MSEK. AGL and Fredersen Advokatbyrå have been advisors during the refinancing and interest rate risk management process.
NLP has through the refinancing taken another important step in the company`s strategic development. The company has given notice of an extraordinary general meeting that will be held on 26 February. The purpose is to approve to change the company name from NLP to Tribona and to approve a merger plan that will enable the listing of the company`s shares to be transferred from the Oslo Stock Exchange to NASDAQ OMX Stockholm. As a dedicated real estate company focusing on logistic properties, with tenants, business partners, head office and properties mainly in Sweden the listing in Stockholm is a logical step. The ambition is to create a larger, market-leading company with a new brand, a clearly defined vision and a clearer customer undertaking.
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This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.Northern Logistic Property ASA (NLP) is a leading pure-play logistic property company based in the Nordic region. The portfolio consists of 20 advanced logistic properties located in strategic locations relative to major logistics flows, with a total lettable area of 734 000 square meters. It is the only listed company of its sort in the Nordic countries.
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Source: Northern Logistic Property ASA via Thomson Reuters ONE