Currency conversion of long term debt
(Thomson Reuters ONE) -
Following a period of a favorable development in the exchange rate between NOK
and SEK, BWG Homes ASA has converted an amount of MNOK 633 of its long term
interest bearing debt to debt denominated in SEK (MSEK 723). The conversion is
made at a NOK/SEK rate of 87.50.
BWG Homes ASA had a long term interest bearing debt of MNOK 1 108 at the close
of the second quarter of 2010.
This conversion has secured a debt reduction due to the change in exchange rate
amounting to MNOK 57 from December 2009 to October 2010. In 2009 the debt
reduction due to the exchange rate fluctuations amounted to MNOK 90.
The exchange will not cause any gains or losses for the Group, nor will it have
any immediate cash flow effects.
Going forward the converted amount will cause the book value of long term debt
to change in line with changes in exchange rate between NOK and SEK.
Contact information:
Arnt Eriksen, CFO, BWG Homes ASA, tel: +47 23 24 60 37, +47 922 14 625.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1450935]
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
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originality of the information contained therein.
Source: BWG Homes ASA via Thomson Reuters ONE
Datum: 11.10.2010 - 16:48 Uhr
Sprache: Deutsch
News-ID 45022
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"Currency conversion of long term debt"
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