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PPI Public Property Invest AB has established a commercial paper programme with a framework amount of SEK 5 billion to support its existing funding structure. The programme allows the Nordic real estate company to issue commercial papers in SEK and EUR with maturities of up to 12 months. Alongside setting up the programme, PPI completed its first issuance, comprising SEK 225 million and EUR 10 million, with maturities ranging from four to six months. The issue was significantly oversubscribed, indicating strong investor demand for the company’s short-term debt instruments.
PPI Public Property Invest AB has established a commercial paper programme with a framework amount of SEK 5 billion, providing the company with an additional source of short-term funding.
The programme allows PPI to issue commercial papers in SEK and EUR with maturities of up to 12 months. The company said the programme will complement its existing funding and provide greater flexibility in managing its short-term liquidity and funding requirements.
As part of the launch, PPI completed its first commercial paper issuance, raising SEK 225 million and EUR 10 million. The papers have maturities of between four and six months. The issuance was significantly oversubscribed, reflecting strong investor interest in the company's debt offering.
Swedbank acted as arranger for the commercial paper programme, while DNB Carnegie, Nordea and Swedbank will act as dealers. Nordea will serve as the issuing and paying agent under the programme.
PPI is a Nordic real estate company focused on owning, operating and developing social infrastructure properties leased to public-sector tenants. Its portfolio includes elderly care and healthcare facilities, schools and other community service properties across the Nordic region. The company is listed on Nasdaq Stockholm and Euronext Oslo Bors.
Source Reuters
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