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 13%13
Bond financing 18%18
Commercial paper 19%19
Other loans 42%42
Unutilised facilities 8%8

Interest rate maturity structure*

  Amount, SEKm Average
interest
rate, %
Share, %
< 1 year 14,686 2.50 62
1-2 years 1,700 2.51 7
2-3 years 1,000 2.13 4
3-4 years 0 0.00 0
4-5 years 1,200 2.27 5
5-6 years

1,100

0.97 5
6-7 years 1,000 0.94 4
7-8 years 1,100 0.98 5
8-9 years 800 1.05 3
9-10 years 1,300 1.07 5
 Total 23,886 2.14 100
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 10,023 5,513  
1-2 years 7,055 5,490  
2-3 years 3,345 2,337  
3-4 years 0 0  
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 30,969 23,886  

*per 30 June 2017