Kungsleden issues bond loans for €86.6m (SE)

Kungsleden issues bond loans for €86.6m (SE)

Kungsleden AB has issued two senior unsecured bond loans with a duration of three respectively eighteen months under its MTN program. The loan amounts in total to €86.6m (SEK 850m).


The three-year loan of €25.4m (SEK 250m) has a floating rate coupon of STIBOR 3M plus 1.8% which corresponds to an initial coupon of about 1.38%. The loan with a duration of eighteen months with a loan amount of €61.2m (SEK 600m) has a fixed rate equivalent to 1.5 year mid-swap rate plus 1.2%, with a coupon of 0.95%. The average interest rate on the loans amounts to 1.08% initially.


Proceeds from the bond issue will primarily be used to repay part of a short-term bank loan with the purpose of reducing the amount of secured debt.


Danske Bank acted as Sole Book Runner and Arctic Securities acted as Co-lead Manager in the transaction.


Kungsleden intends to list the bond loans on the corporate bond list of NASDAQ Stockholm.

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