JM AB has signed an agreement with five Nordic banks regarding a three-year syndicated credit facility totalling SEK 4.2 billion. The facility will be used to refinance existing credit agreements while strengthening the company's conditions for balanced and sustainable long-term growth.
The credit facility matures in the first quarter of 2029 and includes two extension options of one year each. The participating banks are Handelsbanken, SEB, Swedbank, Nordea and OP Corporate Bank, with Handelsbanken acting as Coordinator. The facility will be used to refinance JM AB's existing bilateral credit agreements amounting to SEK 2.8 billion as well as local credit agreements in JM Finland, and for general corporate purposes. The facility is supplemented by an existing overdraft facility of SEK 400 million and ongoing project-related financing.
The new syndicated facility strengthens JM's financial flexibility and provides improved conditions for JM's long-term development. Through coordination within a common credit structure, administration is also streamlined, while JM gains improved liquidity preparedness and strengthens already good banking relationships.
- It is very gratifying that, through this credit facility, JM further strengthens its strong financial position. It provides JM with increased stability and room for manoeuvre in a market that continues to be characterized by uncertainty. We are pleased with the confidence shown to us by our Nordic banking partners, says Tobias Bjurling, CFO of JM.
For more information please contact:
Tobias Bjurling, CFO, +46 8 782 87 00, cfo@jm.se
Katarina Rimmerfeldt, Head of Group Communications, +46 73 432 61 20, press@jm.se
About JM
JM is the leading developer of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 10 billion and the company has about 1,800 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. For more information www.jm.se/en
