Correction: Kaldalón hf.: Acquisition of the Property Portfolio of FÍ fasteignafélag

Core Viewpoint - Kaldalón hf. has successfully signed a purchase agreement for all real estate assets owned by FÍ fasteignafélag, marking a significant expansion of its property portfolio in the Greater Reykjavík area [1][3]. Group 1: Transaction Details - The total purchase price for the real estate portfolio is ISK 13,150 million, financed through the issuance of equity and bonds [4]. - The transaction involves the delivery of 228,112,591 new shares in Kaldalón and bonds amounting to ISK 7,232.5 million, with bonds issued at a yield of 3.93% [4]. - The bonds will be listed on Nasdaq Iceland and sold at par, with a margin of 120 basis points above the average yield of the Icelandic government bond yield curve [4]. Group 2: Property Portfolio - The acquired portfolio consists of 11 properties totaling approximately 25,200 square meters, including a hotel, an embassy, a healthcare facility, and office premises [2]. - Key assets include a 100-room hotel at Hverfisgata 103, office premises at Borgartún 25, and a healthcare facility in Glæsibær [2]. Group 3: Financial Impact - The estimated increase in Kaldalón's annual net operating income (NOI) from the transaction is approximately ISK 870 million, with a potential increase to ISK 960 million upon full leasing of one development asset [7]. - Following the transaction, Kaldalón's total property portfolio will expand to approximately 170,000 square meters, with operating revenues expected to increase by approximately ISK 1,050 million annually [9]. Group 4: Strategic Comments - The CEO of Kaldalón expressed satisfaction with the acquisition, highlighting the central location of the properties and the presence of strong tenants, indicating a strategy to streamline the portfolio and enhance revenue [8]. - The Chairman of the Board of FÍ Eignarhaldsfélag noted the successful development of FÍ fasteignafélag and the milestone achieved through this transaction [9].