Published to NADAQ OMX Copenhagen via Company News Service on 23 January 2009
Landic Property Bonds VIII (Sverige II) A/S - Company Statement
Non-payment of bond interest
The company hereby announces that interest payment on bonds issued by the
company will not be paid on the Settlement Date 9 February 2009.
This announcement affects the following bond issue:
ISIN: DK0030021449 Nominal Amount (DKK) 410,000,000
The company's senior lender has served a notice of default on the company with
reference to the senior loan agreement claiming that the company is not in
compliance with the loan to value covenant. As a result, the senior lender has
declined the release of sufficient funds from the accounts of the Landic
VIII-group to meet the payment of the bond interest on the Settlement Date.
The Company is in dialogue with the senior lender to try and find a resolution.
Furthermore, the Company will agree with The Bond Bank and the Special Servicer
on the mandatory steps in accordance with the provisions in the prospectus. If
the non-payment exists beyond 8 days after the Settlement Date The Bond Bank is
obligated to call for a Bond Owners' Meeting with a notice of not less than 8
days.
Please address questions relating to this notice to Gunnar Petersen, Chairman
of the Board, on telephone +45 3378 4000.
