Copenhagen 4. January 2019
Amager Strandvej 60-64/Ved Amagerbanen 37 ApS a wholly owned subsidiary of GG Amager Strandvej Holding ApS (“the Company”) has entered into a financing agreement with clients of Pensionskassernes Administration A/S (“PKA”) to fund the construction of the Amager Strandvej Project located at Amager Strandvej 50-54, 58 and 60-64, 2300 Copenhagen.
The financing facility of DKK 865,000,000 is split into a construction financing facility of DKK 606,000,000 and a refinancing facility of DKK 259,000,000.
The construction facility will secure the full construction of the project.
The refinancing facility will be used to partly repay the Company’s outstanding 1st and 2nd lien bond issues. Gefion Group A/S has furthermore engaged a Nordic investment bank to secure the remaining financing in order to repay the outstanding 1st and 2nd lien bond issues in full. The tentative time-line suggests the Company will be able to repay the outstanding bond issues medio February 2019. The Company will notify the Bondholders formally with a Voluntary Call Notice when the full financing has been secured.
Thomas W. Færch, CEO of Gefion Group A/S, comments: We are very pleased and proud that we have secured this financing facility with PKA in order to complete the Amager Strandvej development. We have invested substantial resources in the development of this project over the last two years and we consider this agreement a proof of our efforts and the quality of the Amager Strandvej Project which we now look forward to take into the construction phase.
Carnegie Investment Bank, Denmark has acted as financial advisor on the transaction, Bruun & Hjejle as legal advisor for the Company and Accura as legal advisor for PKA.
For further details please contact:
Thomas W. Færch
CEO, Gefion Group A/S
twf@gefiongroup.com
+ 45 20 20 19 41