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Logistea AB (publ) ("Logistea" or the "Company") has successfully issued new senior unsecured green bonds in an amount of SEK 600 million under a total framework of SEK 1 billion (the "Green Bonds" and the “Green Bond Issue”). The Green Bonds carries a floating rate of three-month STIBOR plus 275 basis points with a tenor of 3.25 years. The net proceeds from the Green Bonds are intended to be used in accordance with the principles set out in the Green Finance Framework, including to refinance the Existing Bonds (as defined below). Logistea will apply for admission to trading of the Green Bonds on the sustainable bond list at Nasdaq Stockholm.
Logistea further announces that its indirect subsidiary, Logistea Properties AS, contemplates giving notice of a conditional early redemption of its senior secured bonds with ISIN NO0012955105 in the outstanding nominal amount of NOK 900 million (the “Existing Bonds”) in accordance with the terms and conditions of the Existing Bonds, which will be conditional upon a successful issue of the Green Bonds and certain other additional financing (the “Early Redemption”).
“We are very pleased to have successfully issued a new green bond on attractive terms. The strong demand and positive reception in the market confirms investors' confidence in Logistea and our sustainability and growth strategy. The bond issue gives us room, together with additional bank financing, to redeem the existing secured bond early, while lowering our average interest cost and strengthening our profit from property management”, says Niklas Zuckerman, CEO at Logistea.
DNB Markets, a part of DNB Bank ASA, Nordea Bank Abp, SpareBank 1 Markets AS and Swedbank AB (publ) have acted as joint bookrunners in connection with the Green Bond Issue. Advokatfirman Cederquist KB has acted as legal counsel in connection with the Green Bond Issue.