D. Carnegie & Co after refinancing: Term to maturity on loan stock averages 4.5 years at average rate of 2.47%

As previously announced, D. Carnegie & Co - listed on Nasdaq First North Premier – has rescheduled two loans totalling approximately SEK 3.8 billion. As a result of the refinancing, as of 5 March this year the average term to maturity on the Company’s debts to credit institutions (excluding outstanding convertible loans) was 4.5 years. The average interest rate on the loan stock was 2.47%. 

Thanks to ever lower market rates, we have been able to secure refinancing at a lower average rate, while at same time extending the average term to maturity on our borrowing . This is something that both increases profitability and minimises the risk for D. Carnegie & Co, says Ulf Nilsson, CEO of D. Carnegie & Co , who continues :

“With fixed interest rates on most of the portfolio, we can also benefit from the extremely low short-term rate on the rest of our loans .

Fixed rate until Capital tie-up
Year SEK m Rate Portion (%) SEK m Portion (%)
2015 3,249 2.0% 49% 966 15%
2016 1,065 16%
2017
2018 841 13%
2019
2020 795 2.1% 12% 795 12%
2021 130 2%
2022 2,606 3.2% 39% 2,853 43%
Total/average 6,650 2.47% 100% 6,650 100%

Further information, please contact:

Ulf Nilsson, CEO, D. Carnegie & Co                                                     +46 (0)8 – 121 317 25

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About Us

About D. Carnegie & Co D. Carnegie & Co is a property company focusing on residential properties in the Greater Stockholm region and other growth areas. The company’s business concept is to own property portfolios slated for a gradual renovation of apartments in conjunction with the natural turnover of tenants. This can take place quickly and cost-efficiently thanks to extensive experience from the Bosystem renovation method which, among other things, means that no evacuation needs to take place. In addition to this, the company creates value through the development of building rights in existing portfolios. The market value of the company’s properties amounted to SEK 15,887 million as of September 30 2016. The total annual rental value amounted to SEK 1,366 million as of September 30 2016. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.

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