In a press release, Klovern AB has issued an additional SEK 500 million through bond loan no.3. This means that the SEK 2,000 million total amount of the bond loan withdrawn amount has reached SEK1,150 million. The unsecured bond loan has a variable interest rate of a three month STIBOR plus 4% with a date due of 2017.
Klovern is a company in the real estate marketniche that works closely with clients and customers to provide them property options in select growth area. As of March 31, 2013, the firm that the property values under its management amounts to SEK 22.7 billion and rental income collected annually amounts to SEK 2.5 billion. The shares of the firm are listed on Nasdaq OMX Stockholm Mid Cap bourse.
The proceeds of the issue would be utilized for general corporate purpose including acquisitions. The bond loan is also listed on the Nasdaq OMX in Stockholm, Sweden. The financial advisers to Klovern were Swedbank Corporate Finance and ABG Sundal Collier.
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