Kungsleden refinances debt at lower cost
Kungsleden has refinanced debt of SEK 1,7 billion by entering into a 10-year mortgage loan.The new loan, which has a maturity of 10 years replaces a previous bank loan with maturity 2021 and a mortgage loan with maturity 2036. After the refinancing, Kungsleden has no maturing bank debt before 2023. The average debt maturity decreases marginally and amounts to 4.8 years at the end of the third quarter while the borrowing cost is slightly reduced starting from 2020. In connection with the refinancing, the loan to value ratio has been increased on some pledged properties which also has