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AB Sagax — Capital/Financing Update 2022
Dec 16, 2022
2959_iss_2022-12-16_49bf2d40-6ba6-4841-8fa7-acba6d411f52.pdf
Capital/Financing Update
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PRESS RELEASE no. 15, 2022
Stockholm, 16 December 2022
SAGAX INCREASES AVAILABLE LIQUIDITY BY SEK 3,100 MILLION
- Sagax has agreed on new credit facilities in a total amount of SEK 3,100 million
- The credit facilities have a tenor of 5 years including extension options
- 65% of the credit facilities are provided in SEK and 35% in EUR
Sagax has increased its available liquidity by SEK 3,100 million through three new credit facilities. The credit facilities are secured and are provided by two Nordic banks. Sagax's unencumbered asset base after the agreed credit facilities amounts to 80%. At full utilisation the average interest margin for the credit facilities is 1.98%.
Including the additional credit facilities Sagax's unutilised facilities as of December 1 amount to approximately SEK 9,800 million, of which SEK 2,100 million constitute back-up facilities for the commercial paper programme.
Comment by David Mindus, Chief Executive Officer, AB Sagax:
- "The new credit facilities provides cost-efficient financing and increased financial flexibility to take advantage of potential investment opportunities during 2023."
For more information, please contact CEO David Mindus tel. +46 8 545 83 540.
About AB Sagax
AB Sagax is a property company whose business concept is to invest in commercial properties, primarily in the warehouse and light industry segment. Sagax's property holdings per 30 September 2022 amounted to 4,036,000 square metres, distributed over 782 properties. AB Sagax (publ) is listed on Nasdaq Stockholm, Large Cap. More information is available at www.sagax.se.
This constitutes information that AB Sagax (publ) is legally obliged to publish under the EU's Market Abuse Regulation. The information was released for publication, through the agency of the contact person above, on 16 December 2022 at 11:30 a.m. CET.
Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.