Swiss Prime Site introduced its capital management principles for the future. The key principles include optimising the mix of equity and borrowed capital, increasing financial flexibility, ensuring homogeneity of financing sources, reducing refinancing risks and minimising financing costs. Building on these principles, Swiss Prime Site concluded a deal with 11 Swiss banking institutions for two unsecured credit facilities with an amount of CHF 2.6 billion. First, Swiss Prime Site redeems with a volume of CHF 1.8 billion the vast majority of its bank mortgages, which as at 30 June 2021 were mostly secured with real estate. Second, Swiss Prime Site is securing a committed revolving credit facility (RCF) in the amount of CHF 0.8 billion. The two agreements have respective tenors of five and six years and feature three and one extension option, respectively. This development will increase the proportion of properties not secured by mortgages in Swiss Prime Site's entire portfolio from just under 30% to more than 80% and will ensure that the vast majority of the providers of borrowed capital are treated equally. This early redemption of the bank mortgages will affect Swiss Prime Site's 2021 income statement by approximately CHF 24 million. The costs are in line with a significant reduction of the interest hedging expenses contractually incurred over the next few years in any case. By contrast, ongoing interest costs of the redeemed mortgages will see a reduction of approximately 50%, or CHF 10 to 12 million per year. Moreover, there will be a significant extension of the weighted term to maturity.