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.

The company’s creditors mainly comprise the major Nordic banks and investors on the capital market.

Per 21 December 2020, 100 per cent of Fabeges financing was green.

Financing*

	31 Dec 2020	31 Dec 2019
Interest-bearing liabilities, SEKm	26,669	26,414
of which outstanding MTN, SEKm	7,950	6,850
of which outstanding SFF, SEKm	1,524	2,085
of which outstanding commercial paper, SEKm	2,025	1,980
Unutilized facilities, SEKm	3,867	4,580
Capital maturity, year	5.2	5.8
Fixed-rate period, year	4.1	4.5
Fixed-rate, share of portfolio, %	74	73
Derivative market value, SEKm	-597	-368
Average interest, incl. facilities, %	1.77	1.80
Average interest, excl. facilities, %	1.67	1.72
Unsecured assets, %	36.5	28.0
Loan-to-value, %	34.8	36.0

*per 31 December 2020

Green financing*

	Credit lines	Outstanding loans and bonds
Green MTN-bonds, SEKm	7,950	7,950
Green bonds via SFF, SEKm	1,524	1,524
Green commercial papers, SEKm	5,000	2,025
Green loans, other, SEKm	21,066	15,170
Total green financing, SEKm	35,540	26,669
Share of green financing, %	100	100
Total green facilities, SEKm	56,916
of which free green facilities, SEKm	21,629

*per 31 December 2020