Financing

Property ownership is highly capital intensive and Fabege’s property portfolio represents a significant value. Accordingly, the choice of capital structure and financing policy are of the utmost importance.

Fabege’s financing operations are governed by the company’s financial policy, which is established by the Board of Directors. Long-term credit lines provide safe and flexible financial management. 

Breakdown of sources of funding*

unitProcent
Revolving facilities 12%10
Bond financing 10%16
Commercial paper 21%20
Other loans 44%41
Unutilised facilities 13%10

Interest rate maturity structure*

  Amount, SEKm Average
interest
rate, %
Share, %
< 1 year 11,148 2.24 49
1-2 years 4,700 3.44 21
2-3 years 1,000 2.13 4
3-4 years 0 0.00 0
4-5 years 1,000 2.68 4
5-6 years

1,100

0.97 5
6-7 years 800 0.96 4
7-8 years 900 0.99 4
8-9 years 600 0.92 3
9-10 years 1,300 1.05 6
 Total 22,548 2.24 100
The average interest rate for the <1 year period includes the margin for the entire debt portfolio because the company's fixed-interest period is established using interest rate swaps, which are traded without margins.

Loan maturity structure*

  Credit agreement, SEKm Drawn,
SEKm
 
Commercial paper programme 5,000 5,000  
<1 year 5,923 2,625  
1-2 years 8,655 6,040  
2-3 years 3,745 3,037  
3-4 years 1,100 300  
4-5 years 300 300  
5-10 years 3,993 3,993  
10-15 years 0 0  
15-20 years 0 0  
20-25 years 1,253 1,253  
Total 29,969 22,548  

*per 31 March 2017