Kungsleden issues five-year bond loan of approx. SEK 400 m
Press Release 29 April 2010
Listed Swedish property company Kungsleden AB (publ) has issued an unsecured bond loan on the Norwegian market. The loan has a value of NOK 325 m, equivalent to about SEK 400 m. The loan has variable interest and final maturity in 2015. The bonds have a coupon of three-month NIBOR plus 3.0% with currency hedges to eliminate any currency risks. Kungsleden will be applying for quotation of the bonds on the Oslo Stock Exchange. Commenting, Thomas Erséus, Kungsleden’s Chief Executive, said: “the Norwegian bond market offers attractive funding opportunities. This bond strengthens Kungsleden’s capital base and complements our current bank funding. The bond loan extends our credit portfolio, while our financial flexibility increases.” The principal will primarily be used for acquisitions and investments in Kungsleden’s existing portfolio. First Securities 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 29 April 2010 at 14:00 p.m.