Norwegian Property is to issue NOK 2.1 bn (EUR 260 mln) worth of bonds on the Norwegian capital markets to refinance five of its properties, including two acquired as part of a NOK 2.1 bn acquisition in late 2006. The bond issuance is one element of an overall refinancing plan the company in the fourth quarter of 2006.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
