Obligation Bulk Infra AS 4.82% ( NO0010865876 ) en NOK

Bulk Infra AS

100 % ⇌

Norvege

NO0010865876 ( en NOK )

4.82% par an ( paiement trimestriel )

14/10/2024 - Obligation échue

Prospectus brochure de l'obligation Bulk Infrastructure AS NO0010865876 en NOK 4.82%, échue

1 000 000 NOK

1 000 000 000 NOK

Bulk Infrastructure AS est une société norvégienne de colocation de centres de données offrant des services d'infrastructure numérique à haute capacité et à faible latence, notamment des solutions de connectivité et d'hébergement de serveurs.

L'Obligation émise par Bulk Infra AS ( Norvege ) , en NOK, avec le code ISIN NO0010865876, paye un coupon de 4.82% par an.
Le paiement des coupons est trimestriel et la maturité de l'Obligation est le 14/10/2024

Bulk Infrastructure Group AS

10.09.2020

Securities Note

ISIN NO0010865876

Summary

Bulk Infrastructure AS FRN senior unsecured bond issue
2019/2024

NO0010865876

Managers:

10.09.2020

Bulk Infrastructure Group AS

10.09.2020

Securities Note

ISIN NO0010865876
Summaries are made up of disclosure requirements due to Article 7 in the REGULATION (EU) 2017/1129 OF THE EUROPEAN
PARLIAMENT AND OF THE COUNCIL of 14 June 2017.

A - INTRODUCTION AND WARNINGS
Warning
This summary should be read as introduction to the Prospectus. Any
decision to invest in the securities should be based on consideration of
the Prospectus as a whole by the investor. The investor could lose all
or part of the invested capital. Where a claim relating to the
information contained in the Prospectus is brought before a court, the
plaintiff investor might, under the national law, have to bear the costs
of translating the Prospectus before the legal proceedings are initiated.
Civil liability attaches only to those persons who have tabled the
summary including any translation thereof, but only where the
summary is misleading, inaccurate or inconsistent, when read together
with the other parts of the Prospectus, or where it does not provide,
when read together with the other parts of the Prospectus, key
information in order to aid investors when considering whether to
invest in such securities.
The Bonds
ISIN: NO0010865876 - Bulk Infrastructure AS FRN senior unsecured
bond issue 2019/2024.
The Issuer
Bulk Infrastructure Group AS is a limited liability company domiciled
in Norway and organized and existing under the laws of Norway
pursuant to the Norwegian Companies Act. The Company was
incorporated in Norway on June 22nd, 2019, and the organisation
number in the Norwegian Register of Business Enterprises is 922 949
891 and LEI code 5493007S9AUU5B258D53. The Company's
registered address is Frognerstranda 2, 0250 Oslo, Norway and the
Company's telephone number is +47 47 80 70 00.
The Offeror
Not applicable. There is no offeror, the Prospectus has been produced
in connection with listing of the bonds at Oslo Børs. The Issuer is going
to ask for admission to trading on a regulated market.
Competent Authority
The Financial Supervisory Authority of Norway (Norwegian:
Approving the Prospectus.
Finanstilsynet), with registration number 840 747 972 and registered
address at Revierstredet 3, 0151 Oslo, Norway, and with telephone
number +47 22 93 98 00 has reviewed and on 10.09.2020, approved
the Prospectus.

B - KEY INFORMATION ON THE ISSUER
Who is the issuer of the securities?
Corporate Information
Bulk Infrastructure Group AS is a limited liability company domiciled in
Norway and organized and existing under the laws of Norway pursuant
to the Norwegian Companies Act. The Company was incorporated in
Norway on June 22nd, 2019, and the organisation number in the
Norwegian Register of Business Enterprises is 922 949 891 and LEI code
5493007S9AUU5B258D53
Website: www.bulkinfrastructure.com
Principal activities
Bulk is a provider of sustainable digital infrastructure in the Nordics.
The Company is an industrial investor, developer and operator of
industrial real estate, data centers and dark fiber networks. Bulk
Infrastructure Group AS is the management company of the group and
provide management services, accounting and administration to related
companies and companies in the Group.

Major Shareholders
The Company is owned more than 90% by Bulk Infrastructure Holding
AS.

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Bulk Infrastructure Group AS

10.09.2020

Securities Note

ISIN NO0010865876
Key managing directors
Name
Position
Jon Gravråk
CEO
Gaute Krekling
CFO
Warren Barrie
Int. sales director DC
Robert Bath
Strategic advisor DC/Fiber
Merete Caubet
VP Fiber Sales
Torbjørn T. Moe
EVP Business Areas
Rune Bang
VP Projects Industrial Real Estate
Rob Elder
VP DC Sales

Statutory auditor
The Company's and Bulk Infrastructure AS independent auditor for the
period, which has covered the historical financial information in this
Registration Document, has been BDO AS, with registration number
993 606 650, and business address at Munkedamsveien 45A, 0250
Oslo, Norway. BDO AS is a member of the Norwegian Institute of Public
Accountants (Nw: Den norske Revisorforening).
What is the key financial information regarding the Issuer?

After the reorganization of the Group in June 2020 the bond issue NO0010865876 were transferred
from its originated issuer Bulk Infrastructure AS to Bulk Infrastructure Group AS. The Bulk
Infrastructure AS group figures are the comparative figures for Bulk Infrastructure Group AS group:

Bulk Infrastructure AS

INCOME STATEMENT
31 Dec 2019
31 Dec 2018

audited
audited
Operating profit
69 786 776
72 290 062
Net profit/loss for period/year
33 589 485
78 479 608

BALANCE SHEET

Net interest-bearing debt (long term debt plus short term debt minus cash)
645 259 997
(45 820 202)

CASH FLOW STATEMENT

Net cash flow from operations
(263 111 087) (6 948 079)
Net cash flow from investments
(592 089 478) (323 135 334)
Net cash flow from financing
897 158 098 459 971 487

What are the key risk factors that are specific to the Issuer?
Most material key risk
· The Group requires substantial long-term liquidity to finance working
factors
capital and capital expenditure for its operations. If the Group's future
revenues decline, or if the Group is unable to attract investors to
increase the Group's equity, or if new debt arrangements and/or
capital expenditure financings in general are not accessible, or only
on unattractive commercial terms, the Group will experience a limited
ability to conduct its business.
· The Company and the Group is exposed to interest risks on interest
bearing current and non-current liabilities. Changes in interest rates
on the Group's liabilities affect the Group's results of operations. In
addition, the Group's results of operations and financial position are
exposed to the effect of market interest rates
· Liquidity risk is the risk that the Group will not be able to meet its
financial obligations as they fall due. As a result of capital intensive
investments in all the business areas the Group need to continuously
monitor it's cash flows to avoid any unexpected liquidity needs may
have a material adverse impact on the Group and may require the
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Bulk Infrastructure Group AS

10.09.2020

Securities Note

ISIN NO0010865876
Group to sell assets they would otherwise not sell and/or to inferior
prices to raise liquidity.
· The Group is dependent on its significant customers and any breach
by the significant customers of their obligations under the lease
arrangements or the loss of such significant customers may have an
adverse effect on the business, financial condition and results of
operations of the Group
· The Group's financial position and prospects is dependent on its
ability to attract customers to its data center business. Lack of
costumers will reduce the Group's income.
· The Group could incur significant costs or liability related to
regulatory matters in connection with their fiber networks and data
centers. New laws may be introduced which may be retrospective and
affect the data center industry, data protection regulations and
privacy regulations. The government authorities are actively involved
in the promulgation and enforcement of regulations related to
taxation, privacy and data protection and safety restrictions. The
institution and enforcement of such regulations could have the effect
of increasing the expense and lowering the income or rate of return
from the Group, as well as adversely affecting the value of its data
centers and fiber network business.

C - KEY INFORMATION ON THE SECURITIES
What are the main features of the securities?
Description of the securities, ISIN: NO0010865876 - Senior unsecured bonds with floating rate.
including ISIN
Issue Date Initial Bonds: 15 October 2019. Issue Date First Tap:
9 September 2020. Maturity Date: 15 October 2024. Initial Bond Issue
is NOK 500 000 000, and First Tap Issue Amount is NOK 500 000 000.
Nominal Amount of each Bond is NOK 1 000 000 each and among
themselves pari passu ranking. Outstanding and Maximum Issue
Amount is NOK 1 000 000 000. Issue Price Initial Bonds: 100%.
Issue Price First Tap: 101 %. The Bonds are floating rate bonds; 3
months NIBOR + 4.50 per cent.
Rights attached to the The Bond Terms has been entered into between the Issuer and the
securities
Trustee. The Bond Terms regulates the Bondholder's rights and
obligations in relations with the issue. The Trustee enters into this
agreement on behalf of the Bondholders and is granted authority to
act on behalf of the Bondholders to the extent provided for in the Bond
Terms.
When bonds are subscribed / purchased, the Bondholder has accepted
the Bond Terms and is bound by the terms of the Bond Terms.

Upon the occurrence of a Put Option Event, each Bondholder will have
the right (the "Put Option") to require that the Issuer purchases all
or some of the Bonds held by that Bondholder at a price equal to 101
per cent. of the Nominal Amount.
Status of the bonds and The Bonds will constitute senior debt obligations of the Issuer. The
security
Bonds will rank pari passu between themselves and will rank at least
pari passu with all other senior obligations of the Issuer (save for such
claims which are preferred by bankruptcy, insolvency, liquidation or
other similar laws of general application) and shall rank ahead of
subordinated debt.

The Bonds are unsecured.
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Bulk Infrastructure Group AS

10.09.2020

Securities Note

ISIN NO0010865876
Where will the securities be traded?
Admission to trading
The Bonds will be listed on Oslo Børs as soon as possible after the
prospectus has been approved by the Norwegian FSA.
What are the key risks that are specific to the securities?
Most material key risks
· Credit risk is the risk that the Issuer fails to make the required
payments under the Bonds (either principal or interest) pursuant to
the obligations in the Bond Terms. In case of a bankruptcy, the
bondholder risk losing its entire investment, and settlement of any
potential dividend will not take place until the bankruptcy
proceedings have been completed.
· Market risk is the risk that the value of the Bonds will decrease due
to the change in value of the market risk factors. In spite of an
underlying positive development in the Issuer's business activities,
the price of a Bond may fall independent of this fact.
· The Bonds are unsecured. Unsecured bonds, in general, carry a
higher risk than secured bonds since secured bonds have preferred
recovery from secured assets.

D - KEY INFORMATION ON THE ADMISSION TO TRADING ON A REGULATED MARKED
Under which conditions and timetable can I invest in this security?
Terms and conditions for the Not applicable. The Bonds have not been subject to a public offer, the
offer
Bonds are already issued and settled.
Why is the Prospectus being produced?
Admission to trading
The Prospectus is produced in connection with listing of the Bonds on
the Oslo Børs.
Use of proceeds
The Issuer used the net proceeds from the Bonds NOK 986 500 000
- (net legal costs, fees of the Managers and the Bond Trustee and any
other agreed costs and expenses) for the general corporate purposes
of the Issuer, including acquisitions and refinancing.
Material conflicts of interest
There is no interest, nor conflicting interests that is material to the
issue.

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