D. Carnegie & Co restructures its financing – reduces interest expenses
The property company D. Carnegie & Co AB (publ.) - listed on Nasdaq First North Premier - has restructured two loans totalling approximately SEK 3.8 billion. The loans are expected to significantly reduce the company's financing costs inasmuch as the average interest rate is reduced to well below 3%. The smaller loan (of almost SEK 1 billion) has a term to maturity of five years, while the second loan (of just over SEK 2.8 billion) has a term to maturity of seven years.
“It is pleasing that D. Carnegie & Co is able to take advantage of lower interest rates when we are now refinancing more than half of our bank loans,” says D. Carnegie’s CEO, Ulf Nilsson. “In addition to significantly reducing our interest expenses, we are securing both capital and the interest rate level for most of our loan portfolio.”
D. Carnegie’s property portfolio is valued at in excess of SEK 11.5 billion and consists of more than 15,000 apartments comprising approximately 1.1 7 million square meters of lettable area.
For more information, please contact:
Ulf Nilsson, CEO, D. Carnegie & Co, tel. +46 (0)8 – 121 317 25