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Kungsleden issues 2 bond loans worth 1.35B Swedish kronor

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Kungsleden issues 2 bond loans worth 1.35B Swedish kronor

Kungsleden AB issued two four-year senior unsecured bond loans worth 1.35 billion Swedish kronor under its recently established MTN program.

The first loan of 1.00 billion kronor has a floating coupon rate of roughly 1.32%, based on a 3-month Stockholm Interbank Offered Rate plus 1.8%. The second loan of 350 million kronor has a fixed coupon rate of 2.06%, equivalent to a four-year mid-swap rate plus 1.8%.

The bonds have a final maturity in October 2021. The company intends to list the bond loan on the corporate bond list of Nasdaq Stockholm.

Proceeds from the bond issue will partly fund the repayment of a short-term bank loan secured with mortgage deed in real property, according to a filing.

Handelsbanken Capital Markets and Nordea were the arrangers and dealers of the issue, and advokatfirman Törngren Magnell served as a legal adviser to Kungsleden.

As of Oct. 4, US$1 was equivalent to 8.11 Swedish kronor.