Heimstaden Bostad Raises SEK 3,337 million in New Equity from Greater Manchester Pension Fund and Existing Shareholders
Summary
The proceeds will partly finance the announced SEK 10,107 million (EUR 907 million) bond buy back and will strengthen the companys balance sheet.Councilor Gerald Cooney, Chairman of Greater Manchester Pension Fund, comments: We are excited to partner with Heimstaden Bostad, a best-in-class residential real estate owner-operator with a strong track record. With a clearly defined focus on ESG improvement, tenant satisfaction, and affordability, Heimstaden Bostad is creating a positive societal impact given the lack of affordable housing in the UK and across Europe.Steen L\xf8nberg J\xf8rgensen, Head of Capital Raising and Client Relations in Heimstaden comments: The new equity shows our shareholders strong commitment to the company, a continuous support that has enabled recent years growth towards becoming a leading and commercially successful residential real estate company. We share a commitment to sustainable and responsible investments on behalf of all stakeholders and are looking forward to developing our relationship even further.Greater Manchester Pension Fund (GMPF) is one of the largest local government pension schemes in the UK, managing \xa328 billion for Manchesters ten boroughs and providing retirement benefits to over 375,000 members. GMPF is committed to investing in a sustainable and responsible manner, with a focus on long-term returns for its members and the wider community. Guided by our Scandinavian heritage and values Care, Dare and Share - our 2,200 colleagues strive to fulfil our mission to enrich and simplify our customers lives through Friendly Homes.