Why did Catena rise on 6 October?
Written after the close on
Catena +1.76%
Catena rose sharply on the Finnish logistics deal. Over the last five trading days Catena fell clearly even as the OMX Stockholm 30 was roughly flat, so the week was weak despite a strong final session. The likely driver of that last-session jump was the agreement, announced at the start of the month, to buy ten Finnish logistics properties from Urban Partners for about SEK 2.15 billion, expanding in Catena's newest market; the portfolio is fully let with long leases and tenants such as Posti and DSV, and Catena expects its loan-to-value ratio (debt as a share of property value) to stay near 45 percent. The earlier weakness in the week may partly reflect the market digesting the size of the deal and the financing it requires. Watch the late-October earnings report for how the acquisition and financing land.
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