Entra

Capital/Financing Update • Sep 6, 2021

Successful issuance of green bonds and buy-backs

6.9.2021 08:51:25 CEST | Entra ASA | Additional regulated information required to be disclosed under the laws of a member state

Entra ASA (Baa1/stable) refers to the announcement on 2 September 2021 where the company announced a potential issuance of several new green bonds with tenors between 5 - 10 years together with buybacks of certain outstanding bonds. On the 3 September Entra ASA successfully issued new green bonds with a total amount of NOK 5,000 million which were split into one tap issue and three new tranches:

Tap Issue of ENTRA63 ESG:

ISIN: NO0011079808

Tap size: NOK 150 million

Outstanding amount after tap issue: 1,815 million

Borrowing limit: NOK 4,000 million

Coupon: 3mN + 0.55%

Reoffer: 3mN + 0.92%

Tap issue price: 96.788%

Maturity: 20 November 2030

5-year floating rate Green issue:

ISIN: NO0011094625

Volume 1. tranche: NOK 2,300 million

Borrowing limit: NOK 3,000 million

Coupon 3mN + 0.12%, quarterly

Reoffer: 3mN + 72 bps

Price: 97.048%

Maturity: 10 September 2026

5-year fixed rate Green issue:

ISIN: NO0011094633

Volume 1. tranche: NOK 1,150 million

Borrowing limit: NOK 3,000 million

Coupon 1.5% p.a.

Price: 97.166%

Yield: 2.103%

Maturity: 10 September 2026

New 8-year fixed rate Green issue:

ISIN: NO0011094641

Volume 1. tranche: NOK 1,400 million Borrowing limit: NOK 4,000 million Coupon 2.00% p.a. Price: 97.375% Yield: 2.364% Maturity: 10 September 2029

In conjunction with the new green bond issuance, Entra ASA bought back totally NOK 3,469 million in the following outstanding bonds:

NO0010981947: Volume: NOK 100 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 300 million

NO0011004210:

Buyback price: 100.0149%

Volume: NOK 50 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 350 million Buyback price: 99.998%

ENTRA27 with ISIN NO0010811649:

Volume: NOK 42 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 1,163 million Buyback price: 100.404%

ENEID88 with ISIN NO0010740061:

Volume: NOK 18 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 1,182 million Buyback price: 101.083%

ENEID60 with ISIN NO0010670995:

Volume: NOK 75 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 425 million Buyback price: 105.183%

ENTRA12 ESG with ISIN NO0010774797:

Volume: NOK 516 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 684 million Buyback price: 100.986%

ENTRA10 with ISIN NO0010766389:

Volume: NOK 630 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 470 million Buyback price: 101.731%

ENTRA20 ESG with ISIN NO0010789464:

Volume: NOK 271 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 924 million Buyback price: 100.898%

ENTRA44 ESG with ISIN NO0010852692:

Volume: NOK 850 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 600 million Buyback price: 100.813%

ENTRA43 ESG with ISIN NO0010852684:

Volume: NOK 621 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 579 million Buyback price: 103.275%

ENTRA52 ESG with ISIN NO0010886856: Volume: NOK 296 million (to be written down in the CSD) Outstanding volume after the buy-back: NOK 594 million Buyback price: 101.891% DNB Markets, Nordea and SEB acted as joint lead arrangers of the transaction.

The Proceeds from the bond issue, is earmarked funding of a pool of properties/projects with high environmental standards and a certification from BREEAM with a minimum certification of "excellent". The current green bond framework for Entra was established in September 2016 by the Centre for International Climate and Environmental Research Oslo (Cicero), an independent research centre linked to the University of Oslo in Norway, and was updated in April 2018 to also include BREEAM-In-Use. Cicero has given Entra's green bond framework its highest rating - Dark Shade of Green. This rating is according to Cicero given only to projects and solutions that already today realise the long term vision of a low-carbon and climate-resilient future. Typically, this will entail zero-emission solutions and governance structures that integrate environment concerns into all activities.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

Anders Olstad, CFO, +47 900 22 559, ao@entra.no

About Entra ASA

Entra is a leading owner, manager and developer of office properties in Norway. Entra owns and manages around 90 buildings totalling approximately 1.3 million square meters, located in Oslo and the surrounding region, Bergen, Stavanger and Trondheim. Entra has a solid customer portfolio with a high proportion of public tenants. The company's strategy is focused on delivering profitable growth, high customer satisfaction and environmental leadership

Attachments

Download announcement as PDF.pdf