Listed Swedish property company Kungsleden has issued an unsecured bond loan on the Swedish market. The loan has a value of SEK 600 mln (EUR 65 mln), carries a variable interest and is set to mature in 2015.

Listed Swedish property company Kungsleden has issued an unsecured bond loan on the Swedish market. The loan has a value of SEK 600 mln (EUR 65 mln), carries a variable interest and is set to mature in 2015.

The proceeds will be used primarily for acquisitions and investments in Kungsleden's existing portfolio. Kungsleden said it will apply for the bonds to be listed on the NASDAQ OMX Stockholm.

CEO Thomas Erséus said Kungsleden intends to carry out further issues on the bond market. 'Kungsleden completed another bond issue today. I’m pleased to see very positive demand for this issue, which was substantially over-subscribed. This bond strengthens Kungsleden’s capital base and complements our existing bank funding. Our credit portfolio is also extended, while increasing our financial scope for action.'

Carnegie Investment Bank advised Kungsleden on the issue.