Hemsö has established a EUR 700 million Euro Commercial Paper (ECP) Programme. The programme complements the company's existing Swedish commercial paper programme and long-term funding sources, further broadening Hemsö's access to international capital markets.
"By establishing the ECP Programme, we are diversifying our funding sources and gaining access to a broader international investor base. With a significant share of our operations and assets located in the euro area, expanding our short-term funding capabilities in euro is a natural step," says Carl-Johan Strandberg, Group Treasurer at Hemsö.
The ECP market is a well-established international market for short-term funding. The programme enables Hemsö to raise funding with maturities of up to 12 months, providing additional flexibility in its liquidity and debt management.
Short-term borrowings under the programme will be fully backed by long-term committed credit facilities, supporting Hemsö's strong liquidity position. In addition, Hemsö is currently in the process of increasing its committed credit facilities by SEK 3 billion to a total amount of SEK 18 billion.
The programme has been assigned an A-2 short-term credit rating by S&P Global Ratings.
J.P. Morgan acted as Arranger of the programme. The appointed Dealers are J.P. Morgan, BNP Paribas, Barclays and Goldman Sachs.
For more information please contact:
Carl-Johan Strandberg, Group Treasurer +46 (0)8-501 171 16
Elin Ulfhammer, Communications strategist +46 (0)31-704 24 56
Hemsö is Sweden's leading owner of properties for public use. The business is based on sustainably owning, managing and developing properties for nursing home, education, health care and the judicial system. Hemsö has properties in Sweden, Germany and Finland. The hallmarks of Hemsö's business are long-term leases and stable tenants. The Third Swedish National Pension Fund (AP3) is the majority owner. The total value of Hemsö's property portfolio is SEK 92 billion. Hemsö has had a credit rating of A- from Standard & Poor's, AA- from Fitch Ratings and A3 from Moody's. More information can be found at: www.hemso.se.
