Bonds and Financing

The growth strategy since 2012 has been financed by paid in equity of NOK 1,464 million as support for NOK 1,683 million in three separate project and acquisition loan facilities in three different loan structures.

The Group concluded in November 2015 a new senior secured multicurrency revolving credit facility of EUR 260 million with DNB Bank ASA and Nordea Bank Norge ASA replacing the project and acquisition facilities. The new corporate facility added new investment capacity at reduced margin.

In parallel with the refinancing in November 2015, the Group’s legal structure was streamlined for future bank debt funding. A sub-holding structure was established as a corporate borrower and owner of all collection platforms and portfolio owing subsidiaries in the Group in a ring-fenced and cost efficient funding structure for bank financing.
The parent company B2Holding AS is the borrower of non-banking loans like the current and future bond loan programs. By combining transparent non-banking debt instruments and listed equity instruments, both issued by the parent company, the equity and non-banking financial instruments will be attractive for all type of investors including investors requiring high degree of liquidity of their investments. The EUR 150 mill bond loan and the EUR 175 bond loan are listed on Oslo Stock Exchange. For further information see Registration Document and Securities Note Attached.