Klövern establishes a commercial paper program and adjusts financial goals
(Thomson Reuters ONE) -
Klövern has established a commercial paper program with a framework amount of
SEK 1,500 million. The time to maturity for the commercial papers is a maximum
of 364 days.
"The commercial paper program broadens Klövern's funding and creates increased
flexibility in debt and liquidity management", says Klövern's Head of Finance
Jens Andersson.
Arranger of the program is Swedbank and the Dealers are Swedbank and Danske
Bank.
Klövern's board of directors has also decided to adjust two financial goals
upwards towards even higher financial strength. The target for the interest
coverage ratio is raised to at least 2.0 from a previous goal of at least 1.5.
During the first quarter of 2015 the interest coverage ratio amounted to 2.3. A
new goal is set that the adjusted equity ratio shall amount to 40 per cent in
the long term. That goal replaces the target that the equity ratio shall be at
least 30 per cent. On 31 March 2015 the adjusted equity ratio amounted to 36.7
per cent whereas the equity ratio was 31.9 per cent.
Klövern's definitions of the two types of equity ratio are as follows.
Equity ratio: Reported equity in relation to reported total assets at the end of
the period.
Equity ratio, adjusted: Reported equity adjusted for the value of derivatives,
goodwill and deferred tax liabilities exceeding 5 per cent of the difference
between taxable value and fair value of the properties in relation to reported
total assets adjusted for goodwill at the end of the period.
Klövern AB (publ)
For additional information:
Rutger Arnhult, CEO, +46 70-458 24 70, rutger.arnhult(at)klovern.se
Lars Norrby, IR, +46 76-777 38 00, lars.norrby(at)klovern.se
Klövern is a real estate company committed to working closely with customers to
offer them efficient premises in Swedish growth regions. As of 31 March 2015,
the value of the properties totaled SEK 31.0 billion and the rental value on an
annual basis was SEK 3.0 billion. Klövern is listed on Nasdaq Stockholm. For
further information, see www.klovern.se.
Klövern AB (publ), Bredgränd 4, 111 30 Stockholm. Phone: +46 8-400 500 50. E-
mail: info(at)klovern.se.
This information is such that Klövern AB (publ) is obliged to disclose under the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was made available for publication on 4 June 2015.
Klövern establishes a commercial paper program and adjusts financial g:
http://hugin.info/134084/R/1926406/691297.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Klövern AB (publ) via GlobeNewswire
[HUG#1926406]
Unternehmensinformation / Kurzprofil:
Datum: 04.06.2015 - 15:02 Uhr
Sprache: Deutsch
News-ID 398294
Anzahl Zeichen: 3325
contact information:
Town:
Nyköping
Kategorie:
Business News
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