Klövern has so far during the second quarter of 2020 refinanced SEK 5.0 billion in existing bank loans and secured bonds and received new loans and credit decisions regarding new loans of in total SEK 3.8 billion. The new loans will, among other things, be used at the maturity of a SEK 750 million bond loan in June 2020.
Including the new financing, and adjusted for the maturity of the bond loan, the average period of tied-up capital as of 19 May 2020 amounted to 4.3 years whereas the average financing rate amounted to 2.4 per cent. Corresponding figures as of 31 March 2020 amounted to 3.6 years and 2.4 per cent, respectively.
”It is gratifying that our strategy of working closely with our banks enables extensive new financing in an exceptional period of time where the previously stable capital market has rapidly changed”, says Jens Andersson, Head of Finance at Klövern.
Klövern AB (publ)
For additional information, please contact:
Jens Andersson, Head of Finance, +46 (0)76-855 67 02, firstname.lastname@example.org
Klövern is a real estate company committed to working closely with customers to offer them attractive premises in growth regions. Klövern is listed on Nasdaq Stockholm. For further information, see www.klovern.se.
Klövern AB (publ), Bredgränd 4, 111 30 Stockholm. Phone: +46 (0)10-482 70 00. E-mail: email@example.com.
This information is information that Klövern AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was made available for publication, through the abovementioned contact person, at 17:30 CEST on 19 May 2020.
This is a translation of the original Swedish language press release. In the event of discrepancies, the original Swedish wording shall prevail.