Heimstaden Bostad Raises SEK 3,337 million in New Equity from Greater Manchester Pension Fund and Existing Shareholders
Heimstaden Bostad AB raises SEK 3,337 million (EUR 299 million) in new equity from UK-based Greater Manchester Pension Fund and existing shareholders. The proceeds will partly finance the announced SEK 10,107 million (EUR 907 million) bond buy back and will strengthen the company’s balance sheet.
Councilor Gerald Cooney, Chairman of Greater Manchester Pension Fund, comments: “We are excited to partner with Heimstaden Bostad, a best-in-class residential real estate owner-operator with a strong track record. Their philosophy of creating long-term value by focusing on evergreen and sustainable investments aligns perfectly with our own strategic objectives and pledge to reach net-zero carbon emissions across our investments by 2050. With a clearly defined focus on ESG improvement, tenant satisfaction, and affordability, Heimstaden Bostad is creating a positive societal impact given the lack of affordable housing in the UK and across Europe.”
Steen Lønberg Jørgensen, Head of Capital Raising and Client Relations in Heimstaden comments: “The new equity shows our shareholders’ strong commitment to the company, a continuous support that has enabled recent years’ growth towards becoming a leading and commercially successful residential real estate company. We are especially pleased to welcome Greater Manchester Pension Fund, one of the UK’s leading institutional investors. We share a commitment to sustainable and responsible investments on behalf of all stakeholders and are looking forward to developing our relationship even further.”
About Greater Manchester Pension Fund
Greater Manchester Pension Fund (“GMPF”) is one of the largest local government pension schemes in the UK, managing £28 billion for Manchester’s ten boroughs and providing retirement benefits to over 375,000 members. GMPF is committed to investing in a sustainable and responsible manner, with a focus on long-term returns for its members and the wider community. GMPF has set ambitious targets to reduce its carbon footprint and has pledged to reach net-zero carbon emissions across its investments by 2050.
Contact
Christian V. Dreyer, CCO
media@heimstaden.com
Fredrik Bock-Hagen, CR
fredrik.bock-hagen@heimstaden.com
About Heimstaden Bostad
Heimstaden Bostad is a leading European residential real estate company with around 158,000 homes across 9 countries and a property value of SEK 345 billion. We acquire, develop, and manage properties with an evergreen perspective. Guided by our Scandinavian heritage and values Care, Dare and Share - our 2,200 colleagues strive to fulfil our mission to enrich and simplify our customers’ lives through Friendly Homes. Read more at www.heimstadenbostad.com.
This information is such information that Heimstaden Bostad AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact persons, for publication on 6 March 2023 at 17.25 CET.
