BEWI Invest will defer interest payments due 29 April, 29 July, and 29 October 2024 on its NOK 900 million perpetual callable hybrid bond issue with ISIN NO0012514324. The deferral is made in accordance with the terms and conditions for the hybrid bond, and no compound interest will incur following the deferral.
This means that BEWI Invest defers approximately NOK 25 million in quarterly interest payments in 2024, aggregated to approximately NOK 75 million.
BEWI Invest is well funded and had NOK 352 million in available cash and credits as of 31 March 2024. By deferring the interest payments, the company uses the flexibility in its financial structure and prioritises to maintain a solid reserve of liquidity, providing flexibility to pursue attractive opportunities. The holders of the hybrid bond are also shareholders of the company.
Contacts:
Bjørnar André Ulstein,
CEO BEWI Invest,
+47 402 30 785