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Magnolia Bostad evaluating SEK700m senior unsecured bond issue.

Global Banking News-September 18, 2018-Magnolia Bostad evaluating SEK700m senior unsecured bond issue

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Magnolia Bostad (STO:MAG) announced on Monday that it has mandated Nordea Bank as sole arranger for a potential four year, SEK denominated, senior unsecured bond issue.

This new bond will have a framework of approximately SEK700m and will have an initial issue volume of approximately SEK400m.

Reportedly, the proceeds from the potential transaction are to be used for financing Magnolia Bostad's continued expansion, refinancing of part of existing debt (including bonds) and new acquisitions.

Also, in connection with the new bond issue, Magnolia Bostad may evaluate a potential partial repurchase of that outstanding SEK500m.

Magnolia Bostad develops new residential properties, including rental apartments, tenant-owned apartments, residential care housing, hotels and student housing, in attractive locations in Sweden's growth areas and major cities.

(EUR1.00=SEK10.39)

((Distributed via M2 Communications - http://www.m2.com))

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Publication:Global Banking News (GBN)
Date:Sep 18, 2018
Words:155
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