Klarabo signs agreement to refinance part of loan portfolio

KlaraBo has signed an agreement to refinance loans totaling just over SEK 1 billion with one of the Group's existing banking partners, corresponding to nearly 20 percent of the total loan portfolio of SEK 5.4 billion. The new loan has a four-year term starting in the third quarter of this year, with an interest margin below the Group's average margin. As a result, the average margin for the total loan portfolio will decrease from 1.43 percent to 1.39 percent. The refinancing will also increase the Group's average debt maturity by approximately 0.8 years and would, all other things being equal, amount to 2.7 years, if the refinancing had been completed as of March 31. 
  
"This refinancing further reduces our credit margin while extending our debt maturity. With this agreement in place, the refinancing of the loans maturing in 2025 is now completed, and the next maturity will not occur until the second quarter of 2026. We see strong opportunities to continue growing under attractive financial conditions going forward", says Per Holmqvist, CFO of KlaraBo. 

For more information:
Per Holmqvist, CFO KlaraBo
[email protected]
+46 73 300 29 23

About KlaraBo
KlaraBo is a real estate company that acquires, builds, owns and manages attractive residential properties. The company was founded in 2017 and operates throughout the country. The strategy is to acquire existing residential properties as well as land for new construction in regions with population growth and a strong labour market. Our newly constructed apartments are developed in-house and space efficient, which contribute to reasonable rents. Both apartments and buildings are designed in collaboration with the municipality to fit local needs. With sustainable building material, the new construction holds a high environmental standard. KlaraBo is a long-term property owner. KlaraBo is listed on Nasdaq Stockholm and is traded under the ticker KLARA B.