Brief: Storm Real Estate Still Negotiates Long-Term Financing Solution

Bevest ASA

28/12/2018 14:11

Dec 28 (Reuters) - Storm Real Estate ASA  STORM.OL :
    * YEAREND OPERATIONAL UPDATE
    * AT MOMENT, COMPANY'S ONLY INCOME SOURCE IS RENTAL INCOME FROM GASFIELD BUILDING IN MOSCOW
    * DESPITE HIGH OCCUPANCY IN BUILDING, COMPANY IS NOT ABLE TO MEET ITS DEBT OBLIGATIONS,
BECAUSE
RENTAL RATES ARE TOO LOW
    * IS STILL IN NEGOTIATIONS WITH BANK AND OTHER RELEVANT STAKEHOLDERS IN ORDER TO ACHIEVE A
LONG-TERM FINANCING SOLUTION

Source text for Eikon:  ID:nObil73mHa 
Further company coverage:  STORM.OL 

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