Atrium Ljungberg borrows SEK 920 million from Nordic Investment Bank
Atrium Ljungberg has signed a green bank loan from Nordic Investment Bank for SEK 920 million. The loan is unsecured and the time to maturity is seven years. The funds will be used in the development of the Life City project in Hagastaden, Stockholm.
Atrium Ljungberg is a long-term property owner with a strong financial position. Its loan portfolio amounts to approximately SEK 20 billion, half of which is financed through the capital markets. The remainder consists of bank financing and direct lending. The unsecured bank loan of SEK 920 million is Atrium Ljungberg's first with Nordic Investment Bank and broadens its financing base. The funds will be used for the construction of the Life City project in Hagastaden, Stockholm. The building, which will be certified according to BREEAM Excellent, covers 27,500 m2 of letting area, and initial occupancy is planned for the end of 2021. Life City will be a new centre for commercial development and services connected to healthcare, research and life science.
“We are pleased to have entered our first financing arrangement with Nordic Investment Bank, which further broadens our financing base. This also shows that in a tougher credit market there is interest in financing sustainable projects” says Martin Lindqvist, CFO of Atrium Ljungberg.
Atrium Ljungberg AB (publ)
For further information, please contact:
Martin Lindqvist, CFO , Atrium Ljungberg, +46(0)709 27 60 09
Albert Olofsson, Treasury, Atrium Ljungberg, +46(0)703 41 53 19
Atrium Ljungberg is one of Sweden’s biggest listed property companies. We own, develop and manage properties in growth markets in Stockholm, Gothenburg, Malmö and Uppsala. Our focus is to develop attractive urban environments for offices and retail, supplemented with residentials, culture, service and education. The total letting area is approximately 1.2 million square metres, distributed among around seventy properties and valued at SEK 49 billion. Our retail hubs draw nearly 60 million visitors on an annual basis and our areas include more than 30,000 workers and students as well as 1,000 residents. Our project portfolio will enable us to invest the equivalent of approximately SEK 32 billion in the future. Atrium Ljungberg is listed as ATLJ-B.ST on the NASDAQ Stockholm Large Cap list. Find out more at www.al.se