STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
This constitutes information that Hemfosa Fastigheter AB (STO:HEMF) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was issued for publication on December 18, 2014 at 11:15 a.m. (CET).
· Söderport Fastigheter has reached agreement on a revolving credit facility totaling MSEK 3,000
· The facility will extend until 2020 and is provided by Swedbank
· MSEK 2,100 will be used to refinance an existing credit facility
· The facility creates the basis for continued development of the Söderport Group, while simultaneously reducing the financial risk for the company
Söderport Fastigheter, which Hemfosa Fastigheter owns in equal parts with Sagax, has today reached an agreement on a revolving credit facility with Swedbank. The facility totals MSEK 3,000 and has a term that will extend until April 15, 2020.
MSEK 2,100 will be used to refinance an existing credit facility. The remaining share of the facility provides the basis for the acquisition of properties in line with the Söderport Group’s strategy. In addition, the move will reduce the financial risk, since the duration of 65 percent of the Söderport Group’s interest-bearing liabilities will be extended from one year to just over five years.
During the first nine months of the year, the Söderport Group recognized profit from property management totaling MSEK 143. At September 30, the Söderport Group owned 45 properties with an externally assessed market value of MSEK 4,950.
About Hemfosa Fastigheter
Hemfosa is a Swedish real estate company with a well-balanced and geographically diversified property portfolio focusing on community service properties with the State and municipalities as the largest tenants. This provides stable cash flows and a healthy yield. In conjunction with value creation, Hemfosa also aims to actively participate in the transaction market. At September 30, 2014, Hemfosa owned commercial properties in Sweden with a total property value of approximately SEK 20.5 billion, including the company’s share of the property value of joint ventures. The company’s share has been listed on Nasdaq Stockholm Mid Cap since March 21, 2014. Read more at www.hemfosa.se.
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