Castellum AB (publ) successfully issues hybrid bonds amounting to EUR 1 billion

Rhea-AI Summary

On August 25, 2021, Castellum AB successfully issued hybrid bonds worth EUR 1 billion with a fixed coupon of 3.125% and an initial non-call period of 5.5 years. The oversubscribed bonds will be listed on Euronext Dublin and classified as equity under IFRS, with Moody's assigning a Ba1 rating. Proceeds will support general corporate purposes including acquisitions and project developments. Castellum is a leading Nordic real estate company with a property value of approximately SEK 97 billion.

Positive

• Hybrid bonds issued amounting to EUR 1 billion.
• Bonds rated Ba1 by Moody's, indicating strong credit quality.
• Oversubscribed issue suggests strong investor confidence.
• Proceeds aimed at acquisitions and development projects.

Negative

• None.

GOTHENBURG, Sweden, Aug. 26, 2021 /PRNewswire/ -- On 25 August 2021, Castellum AB (publ) successfully issued hybrid bonds with an initial non-call period of 5.5 years and a fixed coupon of 3.125%. The issue was oversubscribed and the bonds will be listed on Euronext Dublin (Global Exchange Market).

The hybrid bonds are considered to be perpetual and will be reported as equity in accordance with IFRS. Moody's has assigned the instrument a Ba1 rating, and has confirmed that it will classify 50% as equity. The proceeds from the bonds will be used for general corporate purposes, including acquisitions and future project development.

For further information, please contact:
Ulrika Danielsson, CFO Castellum AB, +46 706-47 12 61

About Castellum
Castellum is one of the Nordic region's largest listed real estate companies with a property value of approximately SEK 97 billion. We are active in attractive Swedish growth regions as well as in Copenhagen and the Helsinki area. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 3.8 million square meters. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.

Beyond expectations.
www.castellum.se

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SOURCE Castellum

FAQ

What are the details of Castellum AB's hybrid bonds issued on August 25, 2021?

Castellum AB issued hybrid bonds worth EUR 1 billion with a fixed coupon of 3.125% and an initial non-call period of 5.5 years.

Where will Castellum's hybrid bonds be listed?

The hybrid bonds will be listed on Euronext Dublin.

What is the credit rating assigned to Castellum's hybrid bonds?

The hybrid bonds received a Ba1 rating from Moody's.

What will Castellum AB use the proceeds from the bond issue for?

The proceeds will be utilized for general corporate purposes, including acquisitions and future project development.

What is Castellum AB's property value?

Castellum AB has a property value of approximately SEK 97 billion.