Catena is in advanced stages of negotiations after having signed an LOI with an existing tenant to acquire a newly built, high ESG-profile and fully let logistics asset in Denmark. Post closing, the tenant will stand for circa 20 percent of Catena’s in place rent. The cutting-edge facility enhances the Company’s portfolio while strengthening the commitment to sustainability, boasting energy-efficient designs that supports green logistics in the region. The sale and lease back through which the asset is expected to be acquired, values the asset at approximately SEK 5 billion.

The acquisition will, when and if completed, add further stability to Catena’s rental income with a 14-year rental contract, extending the WALE from 5.8 years on 30 June 2024 to circa 6.8 years post deal. With committed financing having been lined-up, Catena’s financial risk profile is expected to improve as the average debt maturity extends from 3.6 years to approximately 4.6 years, while also helping to reduce the average credit margin. Management anticipates closing this transaction towards the end of Q3 2024.

Catena has carried out a directed new share issue of approximately SEK 3.1 billion.