Brief: Storm Real Estate Signs Short-Term Agreement With Swedbank

Bevest ASA

11/06/2019 07:09

June 11 (Reuters) - Storm Real Estate ASA  STORM.OL :
    * SAID ON MONDAY SIGNED NEW SHORT-TERM AGREEMENT WITH BANK,
CONTAINING NEW LOAN COVENANTS
    * AGREEMENT EXPIRES ONCE A LONG-TERM AGREEMENT HAS BEEN
SIGNED, OR
AT THE LATEST ON 30 JUNE 2019
    * COMPANY EXPECTS THAT THERE WILL BE A FINAL CLARIFICATION
ON THE
NEGOTIATIONS WITH THE BANK BY THE END OF JUNE
    * COMPANY IS LIKELY TO BREACH ITS LOAN COVENANTS AT THE
EXPIRY OF
THE AGREEMENT IF THE PARTIES DO NOT AGREE ON A LONG-TERM
SOLUTION

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nObiPwgY2a
    
 Further company coverage:  STORM.OL  
   


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