The court did not concur with the tenant's effort to shift responsibility for the delivery of possession of the premises to the landlord and issued a judgment both against the tenant and his guarantor for rents in arrear
, means profits until the delivery of possession and damages to the premises.
The Sukuk will pay an expected return at a rate of 6% per annum, payable semi-annually in arrear
from (and including) the issue date for a period of five years, and thereafter at a rate, reset and payable semi-annually in arrear
, reflecting the initial margin above the then prevailing six month Emirates Interbank Offered Rate.
The senior unsecured bonds are expected to bear interest of between 4-4.5%, payable quarterly in arrear
, and will be convertible at a price equal to a premium of 30%-50% over the volume weighted average price of the company's shares on the Oslo Stock Exchange between launch and pricing, subject to a minimum reference price of NOK178.
The bonds, which are convertible into common shares, are expected to have an annual coupon of between 3.625% - 4.625% payable semi-annually in arrear
and a conversion premium of 30% - 35% over the volume weighted average price of shares on the Oslo Stock Exchange (OSE), converted in EUR, between launch and pricing.