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

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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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