Victoria Park increases loan facilities with existing creditors with SEK 1.4 billion
Victoria Park AB (publ) has entered into agreement with two of its existing creditors, increasing the loan facilities with those creditors with a total of SEK 1,387 million.
– Victoria Park’s business model with value-creating investments and socially sustainable management increases the value of our properties over time, which enables us to continuously increase our loan facilities. The new agreements are yet a proof that our business model works, from a shareholder perspective as well as a financing perspective, comments Victoria Park’s CEO Per Ekelund.
If the group were to draw fully on the increased facilities, SEK 1,387 million would be made available during the year, at the same time as the average interest is lowered with 10 basis points. Victoria Park’s financial goal as regards loan to value is that it will not exceed 65 per cent. Loan to value is well within the goal also after the new facilities have been fully drawn.
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Victoria Park AB (publ) is a listed property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth districts in Sweden. On 31 March 2018, Victoria Park’s property portfolio amounted to 1,083,000 square metres, comprising 13,725 flats, with a market value of SEK 16.2 billion. The shares in Victoria Park are listed for trading on Nasdaq Stockholm Mid Cap.
Victoria Park AB (publ)
Box 2, 201 20 Malmö, Tel 040 16 74 40, Org. nr 556695-0738, Säte Malmö, www.victoriapark.se