Access to property financing easing – Catella survey

Swedish group Catella’s latest Real Estate Debt Indicator for the second quarter of 2013 points to an all-time high sentiment among lenders and borrowers on the Swedish credit market.

The CREDI hit 64.9 in the quarter, up from 55.9 in the previous quarter.

Daniel Anderbring, research analyst at Catella, said: “A majority of both lenders and borrowers polled indicate an easier lending environment in the current and near term. This is reflected in the mix of real estate transactions in the first half of the year that saw geared investors taking a bigger share of total acquisitions.”

The volume of corporate and secured bonds issued by the listed companies covered by CREDI has reached some 10% of their total outstanding debt, Catella said
Meanwhile, the companies have continued their pattern of deleverating started in 2009, with average loan to value ratios falling to 53% by the first quarter of 2013.

The fifth CREDI report can be downloaded from www.catellaproperty.se. The next CREDI will be published in September this year.

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