Kungsleden issues three-year bond loan of SEK 600 m
Listed Swedish property company Kungsleden AB (publ) has issued an unsecured bond loan on the Swedish market. The loan has a value of SEK 600 m. The loan has variable interest and final maturity in 2014.
The bonds have a coupon of three-month STBOR plus 2,75%. Kungsleden will be applying for quotation of the bonds on the NASDAQ OMX Stockholm.
Commenting, Thomas Erséus, Kungsleden’s Chief Executive, said: “with the aim of being a repeat issuer on the bond market, Kungsleden completed another bond issue today. I’m pleased to see very positive demand for this issue, which was substantially over-subscribed. This bond strengthens Kungsleden’s capital base and complements our existing bank funding. Our credit portfolio is also extended, while increasing our financial scope for action.”
The principal will primarily be used for acquisitions and investments in Kungsleden’s existing portfolio.
Carnegie Investment Bank AB (publ) has been Kungsleden’s adviser on the issue.
Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 24 February 2011 at 9:00 a.m.
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 (0)8 503 052 04 | mobile 46 (0)70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 (0)8 503 052 06 | mobile 46 (0)70 690 65 65
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 December 2010, the property portfolio comprised 592 properties with a book value of SEK 21.5 bn. The holding was located in a total of 133 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.
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