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Following the refinancing of the first two of its three senior debt facilities, announced in November 2018 and February 2019, Cibus Nordic Real Estate AB (publ) ("Cibus" or the "Company") has now refinanced the final remaining senior debt facility. The refinancing has a positive effect on the Company's future cash flows.
The new €190 million facility with Nordea Bank, LocalTapiola and Swedbank has a lower margin and a longer maturity than before. It also includes a facility for further acquisitions. The facility is large enough to enable the Company to carry out its acquisition strategy during this year and next year at the planned pace.
"At the time of the IPO, the Company set out a target to refinance all its existing senior loans within a two-year time frame. The target was to decrease the margin and increase the debt amount so that acquisitions for a total of €100 million could be acquired without increasing the total interest expense of the company. We have now concluded the refinancing quicker than anticipated and fulfilled the margin target. In addition to that, we have been able to secure even more financing than originally anticipated. This facility will now let us continue the pace of €50 million in new acquisitions per year all through 2020. After that, we will start focusing on a potential refinancing of the outstanding bond of the Company" says Sverker Källgården, CEO of Cibus.
24 June 2019
For further information, please contact:
Sverker Källgården, CEO, Cibus Nordic Real Estate (+46 761 444 888)
Cibus is a real estate company listed on Nasdaq First North in Stockholm. The company's business idea is to acquire, develop and manage high quality properties in the Nordics with daily goods store chains as anchor tenants. The company currently owns 138 properties in Finland. The main tenants are Kesko, Tokmanni and S-Group. FNCA Sweden AB, +46(0)8-528 00 399 email@example.com, is appointed Certified Adviser.
Styrelsen i Cibus Nordic Real Estate AB (publ), org. nr 559135-0599, utreder för närvarande möjligheterna till månatlig utdelning. Styrelsen avser att kalla till en extra bolagsstämma när denna utredning är klar. För årsstämman föreslår styrelsen därför endast beslut om den första kvartalsvisa utdelningen i juni om 0,22 EUR per aktie.
The board of directors of Cibus Nordic Real Estate AB (publ), reg. no. 559135-0599, are currently investigating the practicalities associated with monthly dividends payments. The board of directors will announce a notice to attend an extraordinary general meeting once this investigation has been completed. Therefore, the board of directors will only propose a resolution on distribution of dividends for the first quarterly dividend payment in June of EUR 0.22 at the annual general meeting.
Cibus Nordic Real Estate AB:s (publ) årsredovisning för 2019 har offentliggjorts och finns tillgänglig på Cibus webbplats www.cibusnordic.com.
Cibus Nordic Real Estate AB's (publ) annual report for 2019 has been published and is available on Cibus website www.cibusnordic.com.
Cibus Nordic Real Estate AB (publ) ("Cibus" eller "Bolaget") har idag tillträtt tidigare aviserat förvärv av en fastighetsportfölj med 111 matvarubutiker av Coop med ett fastighetsvärde om cirka 1 900 miljoner SEK. Förvärvet är Cibus första förvärv i Sverige. Fastigheterna är belägna i södra och mellersta Sverige och är uthyrda med nya tioåriga triple net avtal med Coop som hyresgäst.
Cibus Nordic Real Estate AB (publ) ("Cibus" or the "Company") has today completed the earlier announced acquisition of a property portfolio with 111 supermarkets from Coop with a property value of approximately SEK 1,900 million. The acquisition is Cibus' first acquisition in Sweden. The properties are located in southern and central Sweden and are rented out with new ten-year triple net agreements with Coop as the tenant.
Cibus Nordic Real Estate AB (publ) ("Cibus" eller "Bolaget") ingår ovillkorat och bindande avtal att förvärva en fastighetsportfölj bestående av 111 matvarubutiker med ett fastighetsvärde om cirka 1 900 miljoner SEK av Coop, såsom tidigare kommunicerats denna dag och i enlighet med separat pressmeddelande slutfört den riktade nyemissionen vilken även offentliggjordes genom ett separat pressmeddelande tidigare idag.
Cibus Nordic Real Estate AB (publ) ("Cibus" or the "Company") enters into unconditional and binding agreement to acquire a property portfolio consisting of 111 supermarkets with a property value of approximately SEK 1,900 million from Coop, as was communicated earlier today, and in accordance with a separate press release completed the directed share issue which also was announced through a separate press release earlier today.