KMC Properties ASA - increases cash position through resetting of swaps to pursue attractive growth opportunities

KMC Properties has today reset seven interest rate swaps gaining a cash inflow
of NOK 100 million. The increased cash position is earmarked to pursue new
attractive growth opportunities in the current real estate market for industrial
and logistics properties, supporting the company's strategy of reaching a gross
asset value of NOK 8 billion by the end of 2024. 
 
KMC Properties is continuously pursuing prudent long-term value enhancing
financial structures in line with its debt covenants. The seven interest rate
swap agreements had an expected internal rate of return of 5.9% per cent with
maturities in 2027, 2028 and 2030. New  identified growth opportunities are
expected to yield a higher internal rate of return at a substantially longer
duration. Hence, capital reallocation represents a cost-effective way to finance
growth creating long-term value for the company's shareholders. 
 
At year end 2023, KMC Properties reported a gross asset value on a proforma
basis of NOK 6.6 billion, including five properties agreed to be acquired in the
first half 2024. The new identified opportunities that the NOK 100 million cash
inflow is intended to finance are not related to already disclosed acquisition
agreements. 
 
Following the transaction KMC Properties has an unchanged interest rate hedge
ratio. Attached is a detailed overview of KMC Properties updated swap
agreements. 

 
For further information, please contact: 
Kristoffer Holmen, CFO tel. [phone] 
Christian Linge, Interim head of M&A tel. [phone]  
 

About KMC Properties ASA 

KMC Properties is an Oslo Børs-listed real estate company focusing on industrial
and logistic properties. The company has a diversified portfolio of properties
in the Nordics, Belgium, Germany and the Netherlands. The properties are
strategically located and have long lease agreements with solid tenants.  KMC
Properties has an ambitious strategy to grow the portfolio through further
development of existing properties, as well as M&A initiatives.  

This information is subject to the disclose requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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