Reference is made to the stock exchange announcement of 10 November 2009 regarding the offer to purchase property units from the unit holders at Fornebu, and the stock exchange announcement of 23 March 2010, where FBU announced that the Board had approved the transaction and that the financing was in place.
The purchase of property units is now completed, and resulted in a total payment from FBU of approx. MNOK 348. The transaction is partly financed by loans for a total of MNOK 195 from two of the Group's existing banks, with collateral in the property purchased back from the unit holders.
At the same time, the FBU Group has changed its bank relation for the Hundsund area. This refinancing resulted in better terms for the Group, as well as extended maturity of the loans, reflecting the field's planned development pace. The refinancing has also contributed to a reduced number of banks related to the Group's activities in Fornebu.
For more information, please contact:
CEO Morten Grongstad
Tlf: +47 99 15 39 05
CFO Inger Lise Egeland
Tlf: + 47 94 87 69 45