Bonava Secures Refinancing Package to Lower Costs, Resume Dividends

Bonava (BONAV-A.ST, BONAV-B.ST) said Friday it completed the refinancing of its existing credit facility agreement and senior secured green bond, allowing it to lower costs and resume dividends. The Swedish residential developer's new financing comprises a 1.5 billion-krona green bond with a 3.5-year term and a two-year 200 million-euro syndicated loan facility, with an option to extend by up to two years. Bonava said it expects to recognize nonrecurring costs of 38.5 million kronor related to the previous bond and credit facility in the second quarter, and 29 million kronor in the third quarter.