Brief: KMC Properties Acquires Seven Properties From BEWI

Bevest ASA

29/09/2023 08:13

Sept 29 (Reuters) - Kmc Properties ASA  KMCP.OL :
    * FOLLOWING TRANSACTION, OVERALL INTEREST MARGIN WILL BE
REDUCED
TO 3.15 PER CENT, COMPARED TO 3.32 PER CENT AT END OF Q2 2023
    * LARGE PROPERTY ACQUISITION ADDS NEW STRATEGIC NORDIC
INSTITUTIONAL INVESTOR AND LOWERS OVERALL INTEREST MARGIN
    * LARGE PROPERTY ACQUISITION ADDS NEW STRATEGIC NORDIC
INSTITUTIONAL INVESTOR AND LOWERS OVERALL INTEREST MARGIN
    * AGREED TO ACQUIRE SEVEN PROPERTIES FROM BEWI ASA FOR NOK
625
MILLION, AT A GROSS YIELD OF 8.75 PER CENT
    * TRANSACTION IS FUNDED BY APPROXIMATELY NOK 290 MILLION IN
BANK
DEBT WITH AN INTEREST MARGIN OF 1.25 PER CENT, NOK 275 MILLION
IN NEW EQUITY, AND NOK 60 MILLION IN AVAILABLE LIQUIDITY.
    * HAS RESOLVED TO INCREASE SHARE CAPITAL OF COMPANY WITH NOK
10,000,000 BY ISSUANCE OF 50,000,000 NEW SHARES, EACH WITH A
NOMINAL VALUE OF NOK 0.2
    * NET PROCEEDS FROM PRIVATE PLACEMENT SHALL BE USED TO
ACQUISITION
OF PROPERTIES

Source text for Eikon:  ID:nObi3Spm5a 
Further company coverage:  KMCP.OL 

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