Atrium Ljungberg is a long-term property owner with a strong financial position. Its loan portfolio is almost equally divided between capital market financing and bank financing.
To widen this financing base even further, bonds of NOK 500 million were issued at the end of October with a maturity of ten years. These bonds will be listed on NASDAQ OMX as part of Atrium Ljungberg’s MTN programme. The company also took out a credit facility of SEK 1,560 million, using Gränbystaden Galleria as security. This is a direct financing facility with Allianz Real Estate and Brunswick Real Estate as the counterparties and a maturity of approximately ten years.
“As part of our work to widen our financing base and gain access to a longer capital commitment, we’ve supplemented our MTN programme, allowing us to issue Norwegian krona. Norwegian investors showed a lot of interest and we’re happy with the company’s first bond issue outside Sweden. At the same time, we also secured direct financing, which is a good complement to the bank financing we already have in place. This gives us access to a longer capital commitment than the banks can normally offer,” says Martin Lindqvist, CFO at Atrium Ljungberg.
Following these transactions, the company’s average interest rate stands at 1.6 per cent with an average capital commitment of 4.0 years and an average fixed interest period of 4.4 years.
Nacka, 23 November 2018
Atrium Ljungberg AB (publ)