Orava Asuinkiinteistörahasto Oyj - Company Announcement

Orava Residential Real Estate Investment Trust plc issues secured notes of EUR 20 million

Orava Residential Real Estate Investment Trust plc

STOCK EXCHANGE RELEASE 26 March 2015 at 9:45 am



Orava Residential Real Estate Investment Trust plc issues secured notes of EUR
20 million 



Not for release, publication or distribution, directly or indirectly, in or
into the United States, Canada, Japan, Australia, Singapore, Hong Kong, or any
other jurisdiction in which the distribution or release would be unlawful. 

Orava Residential Real Estate Investment Trust plc issues secured notes of EUR
20 million. The issue date of the notes is 1 April 2015. The maturity of the
notes is five years, and the notes are due on 1 April 2020. The notes bear a
fixed interest rate of 4.25% per annum. The proceeds of the notes will be used
for the repayment of bank loans of the parent company to the extent of EUR 17.4
million and general corporate purposes of the group. 

The security of the notes consists of shares in housing companies or mutual
real estate companies fully or partially owned by the company and amounts
standing to the credit of the company's specified bank account. The fair value
of the assets subject to the security of the notes shall not be less than 130
per cent of the total outstanding principal amount of the notes in issue at any
time. The assets within the security pool will vary during the term of the
notes subject to the minimum overcollateralisation ratio. 

The notes constitute a part of a financing arrangement disclosed by the company
on 11 March 2015, which also includes a credit facility of EUR 15 million with
Danske Bank Oyj. The issue of the notes was a condition for the entry into
force of the said credit facility. Therefore, the entire financing arrangement
will enter into force on the issue date of the notes. 

The notes will be applied to be listed on NASDAQ OMX Helsinki Ltd on or about 2
April 2015, as estimated. 

Danske Bank Oyj acts as the lead manager and arranger in the above issue and
Castrén & Snellman Attorneys Ltd acts as the company's legal adviser. 



Orava Residential Real Estate Investment Trust plc



Additional information

Veli Matti Salmenkylä, CFO, tel. +358 10 420 3102

Pekka Peiponen, CEO, tel. +358 10 420 3104



Not for release, publication or distribution, directly or indirectly, in or
into the United States, Canada, Japan, Australia, Singapore, Hong Kong or in
any other jurisdiction where such release, publication or distribution would be
unlawful. Persons who reside outside Finland may receive this release only in
compliance with applicable exemptions and restrictions. 

The information contained in this release shall not be construed as an offer to
sell, or as a solicitation of an offer to purchase with respect to any notes.
In particular, this release does not constitute an offer to sell, or a
solicitation of offers to purchase, any securities in the United States. Any
notes referred to herein have not been, and will not be, registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements.