Catena

Joint Global Coordinator & Joint Bookrunner

Van Lanschot Kempen acted as Joint Global Coordinator & Joint Bookrunner in the SEK 1,642 million capital increase by Catena

Transaction highlights

Capital increase via accelerated bookbuild offering of 4,534,944 new ordinary shares at a subscription price of SEK 362.00 per share, raising gross proceeds of SEK 1,642 million (c. EUR 151 million) for Catena
The transaction was launched following a selective market sounding exercise, which resulted in indications of interest in excess of the total deal size prior to launch, thereby evidencing large investor appetite for logistics real estate despite current market turmoil
In addition, ahead of launch, Catena’s second largest shareholder WDP (10%) expressed its intention to participate pro rata in the transaction
The order book was covered within 25 minutes post launch and the final order book was multiple times covered, with the majority of shares allocated to existing long-only shareholders and real estate specialist investors from continental Europe and the United Kingdom
The subscription price represented a limited discount of 0.16% to last reported EPRA NTA of SEK 362.58 per share (30 September 2022)
Catena intends to use the transaction proceeds to (i) support its existing development pipeline; (ii) allow Catena to continue growing by new project schemes including sustainable energy projects; and (iii) capitalise on attractive acquisitions whilst also maintaining a solid capital structure in today’s volatile financial market circumstances

Company description

Catena AB is a Swedish logistics property company that owns, develops, manages and sells logistics properties. As of 30 September 2022, its portfolio consists of 124 logistics properties, primarily located in southern and central Sweden and with a total value of c. SEK 26,667 million. Its operations take place in the regions of Gothenburg, Helsingborg, Jönköping, Malmö and Stockholm.

Van Lanschot Kempen Real Estate credentials

This transaction underpins our leading position in European Real Estate ECM since 2011 and the logistics sector in particular with 17 transactions in the logistics sector since 2018

Van Lanschot Kempen has advised on Real Estate transactions in 15 different countries in Europe over the last 5 years

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Thomas ten Hoedt

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Birgit Brekelmans

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