The privately owned real estate group Proark has announced the launch of a new EUR 40 million bond issue. The issue will be carried out through its subsidiary Famkaa Invest ApS and structured as a senior unsecured bond with a 3.5-year tenor and a floating interest rate. There is also an option to tap an additional EUR 40 million.
The net proceeds from the transaction will be allocated to value-add projects in the Nordic region, including acquisitions of shares in property-owning companies and refinancing. A portion of the proceeds will also support the refurbishment and repositioning of Proark’s four-star hotel outside Paris, which is set to be rebranded under the Crowne Plaza flag in 2026.
With DKK 6 billion of assets under management and a pro forma loan-to-value ratio of 49%, Proark is well positioned to capture growth opportunities while maintaining a robust balance sheet.
“This bond issue is an important step in Proark’s strategy to strengthen and develop our portfolio. We focus on projects that create long-term value, both in the Nordics and internationally, and the bond market provides us with the flexibility to execute these plans,” says Michael Kaa Andersen, founder and owner of Proark.
SB1 Markets has been appointed Sole Bookrunner for the transaction.