Intea Fastigheter AB (publ) has increased its backup facilities by an additional SEK 2 000 million. In combination with last week’s new issues totalling SEK 750 million, this boosts the company’s financial capacity, allowing it to take advantage of changing market conditions.
Intea has entered into agreements with three banks to increase available backup facilities by a total volume of SEK 2 000 million. In total, Intea’s backup facilities amount to SEK 5 200 million, of which SEK 700 million had been drawn down by 31 March 2022. The purpose of the facilities is to cover the company’s outstanding commercial paper and other ongoing capital requirements.
At the Extraordinary General Meeting on 27 June 2022, the decision was made to carry out two new issues, bringing the total amount raised by the company to SEK 750 million, of which SEK 500 million relates to Class B shares and SEK 250 million to Class D shares. The Class B shares were subscribed by existing shareholders at their net asset value as of 31 March 2022. Further information is available on the company’s website.
“During the year, we have noted a generally weaker financing market, while we are seeing an increased flow of business for high-quality property units at increasingly attractive levels. By increasing the financial capacity of the company, we are becoming more flexible and are well equipped to take advantage of changing market conditions,” says Henrik Lindekrantz, CEO.
For further information, please contact:
Henrik Lindekrantz, CEO, +46 (0) 732-08 81 02
Eva Bång, CFO, +46 (0) 702-20 14 69
Intea was founded in 2015 with a focus on long-term active ownership of social infrastructure. At 31 March 2022, the value of the company’s property portfolio amounted to SEK 18.3 billion, with a lettable area of 450,000 sqm. The portfolio consists of properties and projects with public-sector tenants in segments such as justice, higher education and health care. Find out more at www.intea.se. www.intea.se.