Logistea completes refinancing activities and delivers significant interest cost reductions

13 Dec 2024 14:45 CET

Logistea has as of today 13th December successfully repaid its NOK 900 million
senior secured bond. The refinancing, executed through a combination of a newly
issued green bond of SEK 600 million and additional bank financing facilities,
marks a significant milestone in the company's strategic focus on capital
optimisation and competitive financing costs.

Since the merger with KMC Properties (“KMC”) in July, Logistea has pursued to
achieve a more optimised debt structure as part of its overall synergy
realisation strategy and important rational of the merger. By securing
favourable financing terms, and through supportive market conditions, Logistea
has so far achieved an annual interest cost reduction of approximately SEK 58
million since the merger was completed in July 2024. The improvement in annual
net finance cost alone since end of Q3 2024 amount to SEK 29 million, excluding
the positive effects from lower base rates. Run rate PFPM per share, as reported
per Q3 adjusted for these recent additional cost reductions, including committed
adjusted margins from lenders, amounts to SEK 1.00 per share, compared to 0.94
per share which was reported as run rate in the Q3 report. In addition, the
refinancing process has resulted in additional cash which can be used for new
acquisitions, supporting Logistea’s growth strategy.

“I am delighted to see our organisation delivering on the synergies we earlier
identified as value inflecting points in the merger with KMC. Overall, our
interest margin has been reduced from 2.61 percent to 2.05 percent since the
merger with KMC, which improves Logistea’s run rate significantly,” said Niklas
Zuckerman, CEO of Logistea.

In addition to the repayment of the NOK 900 million bond, Logistea has
undertaken several initiatives, including more optimised bank facilities and
restructuring parts of its interest rate swap portfolio, further enhancing its
financial strength. The average total interest rate has since the merger with
KMC been reduced from 5.87 percent to 5.08 percent.

“The inclusion in the EPRA index in September is a testament to our
strengthened position in the market. We are on track with our overall synergy
realisation plan set out during the merger with KMC, with further earning
improvements expected going forward.”, said Niklas Zuckerman

Logistea remains committed to continue optimising its capital structure,
realising synergies supporting earnings growth, and pursuing growth
opportunities aligned with its strategic priorities and targets.
Logistea will release the Year end report 2024 as of February 13th.

For further information, please contact:
Niklas Zuckerman, CEO Logistea
Niklas.zuckerman@logistea.se

About Logistea AB (pub)

Logistea is a Swedish real estate company focusing on warehousing, logistic and
light industrial properties. The company’s shares are listed on Nasdaq Stockholm
with the short names LOGI A and LOGI B. For more information: www.logistea.se

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