Swedish real estate company Logistea has refinanced SEK 895 mln (€79 mln) of its existing loans, with at least SEK 350 mln (€31 mln) qualifying as green loans with potentially favourable terms.
The new loan agreement with a large Swedish bank has a variable interest rate and a 3-year term.
The tied-up capital period increases from 1.9 years to 2.9 years, while the interest-bearing debt maturing in 2024 reduces significantly from 41% to 4%.
Tobias Lövstedt, head of finance and business development, Logistea, said: ‘We are very happy to extend and deepen the collaboration with a bank who is and has been an important and stable partner on our growth journey for a long time. It is also great that together are taking a larger approach to green and sustainability-linked financing in order to facilitate the relocation of our properties from a sustainability perspective.’
Logistea focuses on warehousing, logistics, and light industrial properties.
Meanwhile, Swedish peer Eastnine has refinanced a total of €62 mln in bank loans, leaving only €23 mln to be refinanced by December 2024.
Two key loans were financed: €45 mln with SEB, maturing in February 2029 (properties S7-2 & 3 in Vilnius) and €18 mln with Swedbank, maturing in November 2027 (property S7-1 in Vilnius).
Half of the refinanced loans have a fixed interest rate through swaps with the same maturities.
Eastnine provides long-term modern and sustainable offices in prime locations in the Baltics and Poland.
