Kefren Properties IX AB
Kefren Properties IX AB, 556691-4031 (”Company”) – Non-payment of Interest

Kefren Properties IX AB 

28.10.2010 14:44

Dissemination of a Adhoc News, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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As outlined in announcement nr. 71 on 27th September 2010 to the OMX Nordic
Exchange Copenhagen, it was expected that the Company would not be in a
position to fulfil the senior loan requirement regarding the size of the senior
loan relative to the market value of the portfolio (loan-to-value), when this
was to be established on 28th October 2010. 

The Company's management has now ascertained that the Company is still in
breach of the loan-to-value condition, why it is with regret that we must
announce that funds will not be released for the payment of interest on the
bonds issued by the Company. 

The consequence of the above is that the Company cannot make the interest
payment due on 31st October 2010. However, the Company will have a continued
obligation to the bondholders with respect to the non-payment of interest. 

Bonds issued by the Company:
ISIN: DK0030039300	Nominal Amount (DKK): 740,000,000

As outlined in announcement no. 72 on 13th October 2010 the Company has, from
the agent of the Senior Loan, received an extension until 4th November 2010.
During this period the Senior Loan cannot be terminated due to non-compliance
of the loan-to-value condition. 

The Company is still in dialogue with the Senior Bank with respect to finding a
solution. It is not expected that a final solution will allow for payment of
interest to the bondholders whilst the loan is still outstanding. 

The Special Servicer has an obligation to call a bondholders meeting with no
less than 8 days notice, in the event a non-payment of interest lasts more than
8 days post the Due Date. As outlined in announcement no. 71 the Company has,
in anticipation of the expected non-payment of interest on the bonds issued by
the Company, contacted the Special Servicer with respect to setting a date for
a bondholders meeting. A bondholders meeting has therefore been scheduled for
17th November 2010 at 2 pm. At the meeting the Company will give a general
presentation of the Company's situation. 

A formal notice of the bondholders meeting will be published in accordance with
the terms of the prospectus. 

The Board of Directors

Please address questions relating to this Notice to Chairman Ole Vagner on
telephone +45 40254113 or via e-mail ole@vagner.dk. 

Further information about Kefren Properties IX AB is available on the Company's
website, www.kefren.se. 

News Source: NASDAQ OMX



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Language:     English
Company:      Kefren Properties IX AB
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0030039300
WKN:          
 
End of Announcement                             DGAP News-Service
 
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