GOTHENBURG, Sweden, April 25, 2018 /PRNewswire/ -- Castellum's ambition is to further strengthen its profile as a commercial real estate company featuring low financial risk. The Board has therefore decided to change current financial policies and decrease the net loan-to-value ratio: not to exceed 50% on a sustained basis - from the current level of 55%.
Furthermore, current restrictions limiting the share of capital-market financing to a maximum 75% of outstanding interest-bearing liabilities will be discontinued. In addition, the Board will introduce a new restriction concerning secured financing. Here, the objective is to limit the ratio of outstanding commercial papers and secured loans to a maximum of 25%, relative to total property values. Besides the above, Castellum financing objectives and restrictions remain unchanged.
This information is information that Castellum is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 15:00 am CET on April 25, 2018.
For additional information, please contact:
Ulrika Danielsson
CFO
Castellum AB
phone +46-706-47-12-61
Ingalill Östman
Director of Corporate Communications
Castellum AB
phone +46-703-54-41-27
www.castellum.com
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 81 billion and comprises commercial properties for office, retail, warehouse and logistics with a total lettable area of approx. 4.4 million sq. m.
The real estate portfolio is owned and managed under the Castellum brand through a decentralized organization with strong and clear local presence in 20 cities from Copenhagen in the south to Sundsvall in the north.
In 2017, Castellum received two awards for sustainability efforts; designated Number One in the world by GRESB for the offices-and-logistics sector, as well as the Level Gold award for sustainability reporting from the EPRA (European Public Real Estate Association). In addition, Castellum is the only Nordic real-estate and construction company elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies in the world who perform best on sustainability issues.
The Castellum share is listed on Nasdaq Stockholm Large Cap.
Castellum AB (publ),
Box 2269, SE-403 14 Gothenburg | Corp Id no SE 556475-5550
Phone +46-31-60-74-00
This information was brought to you by Cision http://news.cision.com
http://news.cision.com/castellum/r/castellum-revises-its-financial-policy---loan-to-value-ratio-reduced-to-max--50-,c2502748
The following files are available for download:
http://mb.cision.com/Main/8364/2502748/829346.pdf | Press release 180425 |
