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 11%11
Bond financing 21%21
Commercial paper 19%19
Other loans 41%41
Unutilised facilities 8%8

Interest rate maturity structure*

  Amount, SEKm Average
interest
rate, %
Share, %
< 1 year 16,036 2.47 65
1-2 years 1,200 2.11 5
2-3 years 0 0.00 0
3-4 years 1,000 2.68 4
4-5 years 600 0.76 2
5-6 years

1,000

0.81 4
6-7 years 1,200 0.93 5
7-8 years 1,200 1.00 5
8-9 years 1,000 1.02 4
9-10 years 1,200 1.16 5
 Total 24,436 2.08 100
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 7,733 3,723  
1-2 years 6,895 5,530  
2-3 years 5,245 3,537  
3-4 years 300 300  
4-5 years 1,100 1,100  
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 31,519 24,436  

*per 30 September 2017