Deals
Novel $10.7 Billion Swedish Deal Reinvents Real Estate Finance
- Heimstaden Bostad’s debt refinancing highlights funding trend
- Euros have overtaken krona as main property funding currency
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A historic shift in how Swedish property firms fund themselves was already underway before a little-known private company revealed a $10.7 billion acquisition that will put the trend firmly on the map.
Heimstaden Bostad AB -- owned by Ivar Tollefsen’s Fredensborg AS and pension funds -- says it will use debt capital markets to refinance a jumbo bridge facility for the largest ever private property transaction in the Nordic region.