PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Norwegian Property re-capitalisation to go ahead after banks' approval
Norway's largest listed real estate group Norwegian Property said its creditor banks have agreed to a complete restructuing of its debt of around e1.5bn, which was a pre-condition to a mainly private placement e170m cash call, to start to recapitalise the company. It said it received documentation that the amendments and changes to loan agreements have been approved by credit committees of all banks involved. Its recent extraordinary general meeting also resolved all proposals to reduce share capital by cutting the nominal stock value to NOK 0.50 from NOK25, and the share capital increase.