Swedish Real Estate Conference
Thursday, November 7, 2019
November
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Sweden’s property market remains incredibly strong with high transaction volumes and continued high levels of international interest. In addition, rents are increasing, albeit slower than previously, and yields are stabilizing.

Register now and join senior investors, issuers and intermediaries to gain the latest insights and have your questions answered on Swedish real estate companies’ creditworthiness and financial stability.

<div class="credit-themes-container dynamic"><div class="w-container"><div class="custom-fa-wrapper"><div class="custom-item-holder"><div class="custom-icon-fa"><br></div><div class="custom-item-text-holder"><h1 class="custom-item-heading alt white">Discover</h1><p class="custom-item-para alt white">Discover fresh perspectives on the credit markets.</p></div></div><div class="custom-item-holder"><div class="custom-icon-fa"><br></div><div class="custom-item-text-holder"><h1 class="custom-item-heading alt white">Analyze</h1><p class="custom-item-para alt white">Analyse which trends will have the most significant impact in the year ahead.</p></div></div><div class="custom-item-holder"><div class="custom-icon-fa"><br></div><div class="custom-item-text-holder"><h1 class="custom-item-heading alt white">Network</h1><p class="custom-item-para alt white">Network with the top Moody's analysts and key market participants.</p></div></div></div></div></div>

08:30 Registration & Welcome Coffee

09:00 Welcome Address

Matthias Hellstern, Managing Director, Corporate Finance Group

Chairperson: Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

Presenter: Marie Elvesol, Country Manager Sweden and Head of Relationship Management for the Nordics

09:10 Moody’s Real Estate Sector Outlook: Credit Quality will remain stable in the short-term

  • Current CRE peak is well above last one – the drop may be more severe than last time
  • Low interest rates ease pressure on credit quality from reduced GDP and yield concerns
  • Largest risks – refinancing risk and decreasing market values
  • How well positioned are the companies for the inevitable cooling of sector conditions?

Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

09:35 Panel Discussion: Status of the property market and key risks for the sector

  • The commercial real estate market is strong – but for how long?
  • Weakening but still strong GDP – but rapid worsening macro data for Sweden, Europe and US and what about event risks once again a weakening in the housing market
  • Interest rates will remain low – but what if risk premiums rise due to macro/systemic risk?
  • Refinancing risks - Banks appetite for real estate exposure, could this be affected by the SFSA requirement?
  • What would be the implications on credit quality?

Led by Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

Arvid Lindqvist, Head of Research, Catella Corporate Finance

Magnus Richardsson, Head of Commercial Real Estate, Nordea

Olivier Chemla, Vice President – Senior Analyst, Sovereign Risk Group

Niclas Boheman, Assistant Vice President – Analyst, EMEA Banking

10:20 Networking & Coffee

10:45 The Regulator’s Plenary Panel: Views and latest developments

The SFSA will decide how much capital banks must hold to cover any losses suffered by real estate companies following a potential property downturn

Henrik Braconier, Chief Economist, Swedish Financial Supervisory Authority

Followed by a panel discussion led by Daniel Harlid, Assistant Vice President – Analyst, Corporate Finance Group

  • Will this lead to more expensive bank financing and increased bond issuance? Will this increase the refinancing risk on the bond market?
  • At this point in the cycle most companies have already entered the bond market - what are the options for the ones still reliant on banks?
  • How easy will it be for companies that have used the unsecured bond market to increase exposure again with banks?

Anders Kvist, Senior Advisor, Swedish Financial Supervisory Authority

Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

Niclas Boheman, Assistant Vice President - Analyst, EMEA Banking

11:30 Sustainability – What are the key risks to the sector due to legislation changes?

Sustainability considerations are becoming ever more important. The development is fast and yesterday's challenges is now a hygiene factor. Rated companies are well-prepared for the 2020 low-energy target for new builds but are there other risks?

  • What are the risks of changing regulation to also cover existing buildings or should the entire building process be included?
  • Will the EU or the Swedish government push for tougher requirements?
  • How will climate change affect views on what is an attractive location? How are companies preparing for this?
  • How is Sweden’s competitive position when it comes to sustainability compared to their European peers?
  • Could tightening environmental legislation become a game changer for real estate companies and what are the credit quality implications?

Led by Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

Anna Denell, Head of Sustainability, Vasakronan

Lena Hagert Pilenås, Head of Unit – Sustainable Buildings and Energy, Boverket

Anna Jonsson, PhD and Associated Professor, Water and Climate Adaptation Expert, Swedish Meteorological and Hydrological Institute

Sabine Lochmann, Chief Executive Officer, Vigeo Eiris

12:10 Closing Remarks

12:15 Close of Conference

08:30 Registration & Welcome Coffee

09:00 Welcome Address

Matthias Hellstern, Managing Director, Corporate Finance Group

Chairperson: Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

Presenter: Marie Elvesol, Country Manager Sweden and Head of Relationship Management for the Nordics

09:10 Moody’s Real Estate Sector Outlook: Credit Quality will remain stable in the short-term

Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

09:35 Panel Discussion: Status of the property market and key risks for the sector

Led by Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

Arvid Lindqvist, Head of Research, Catella Corporate Finance

Magnus Richardsson, Head of Commercial Real Estate, Nordea

Olivier Chemla, Vice President – Senior Analyst, Sovereign Risk Group

Niclas Boheman, Assistant Vice President – Analyst, EMEA Banking

10:20 Networking & Coffee

10:45 The Regulator’s Plenary Panel: Views and latest developments

The SFSA will decide how much capital banks must hold to cover any losses suffered by real estate companies following a potential property downturn

Henrik Braconier, Chief Economist, Swedish Financial Supervisory Authority

Followed by a panel discussion led by Daniel Harlid, Assistant Vice President – Analyst, Corporate Finance Group

Anders Kvist, Senior Advisor, Swedish Financial Supervisory Authority

Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

Niclas Boheman, Assistant Vice President - Analyst, EMEA Banking

11:30 Sustainability – What are the key risks to the sector due to legislation changes?

Sustainability considerations are becoming ever more important. The development is fast and yesterday's challenges is now a hygiene factor. Rated companies are well-prepared for the 2020 low-energy target for new builds but are there other risks?

Led by Maria Gillholm, Vice President – Senior Credit Officer, Corporate Finance Group

Anna Denell, Head of Sustainability, Vasakronan

Lena Hagert Pilenås, Head of Unit – Sustainable Buildings and Energy, Boverket

Anna Jonsson, PhD and Associated Professor, Water and Climate Adaptation Expert, Swedish Meteorological and Hydrological Institute

Sabine Lochmann, Chief Executive Officer, Vigeo Eiris

12:10 Closing Remarks

12:15 Close of Conference

Speakers

Guest Speakers

Henrik Braconier
Chief Economist and Executive Director
Economic Analysis

Guest Speaker

Swedish Financial Services Authority (Finansinspektionen)

Guest Speaker

Swedish Financial Services Authority (Finansinspektionen)

Chief Economist and Executive Director
Economic Analysis
Henrik Braconier
Anders Kvist
Senior Advisor to the Director-General

Guest Speaker

Swedish Financial Services Authority (Finansinspektionen)

Guest Speaker

Swedish Financial Services Authority (Finansinspektionen)

Senior Advisor to the Director-General
Anders Kvist
Magnus Richardsson
Managing Director
Head of Commercial Real Estate

Guest Speaker

Nordea

Guest Speaker

Nordea

Managing Director
Head of Commercial Real Estate
Magnus Richardsson
Anna Denell
Head of Sustainability

Guest Speaker

Vasakronan AB

Guest Speaker

Vasakronan AB

Head of Sustainability
Anna Denell
Sabine Lochmann
Chief Executive Officer

Guest Speaker

Vigeo Eiris

Guest Speaker

Vigeo Eiris

Chief Executive Officer
Sabine Lochmann
Lena Hagert Pilenås
Head of Unit - Sustainable buildings and energy

Guest Speaker

Boverket

Guest Speaker

Boverket

Head of Unit - Sustainable buildings and energy
Lena Hagert Pilenås
Anna Jonsson
PhD and Associated Professor, Water and Climate Adaptation Expert

Guest Speaker

SMHI / Swedish Meteorological and Hydrological Institute

Guest Speaker

SMHI / Swedish Meteorological and Hydrological Institute

PhD and Associated Professor, Water and Climate Adaptation Expert
Anna Jonsson
Arvid Lindqvist
Head of Research

Guest Speaker

Catella

Guest Speaker

Catella

Head of Research
Arvid Lindqvist

Moody's

Marie Elvesol
Country Manager Sweden and Head of Relationship Management for the Nordics

Moody's Investors Service

Moody's Investors Service

Country Manager Sweden and Head of Relationship Management for the Nordics
Marie Elvesol
Maria Gillholm
Vice President – Senior Credit Officer
Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group
Vice President – Senior Credit Officer
Maria Gillholm
Olivier Chemla
Vice President - Senior Analyst
Sovereign Risk Group

Moody's Investors Service

Moody's Investors Service

Sovereign Risk Group
Vice President - Senior Analyst
Olivier Chemla
Niclas Boheman
AVP - Analyst
Financial Institutions Group

Moody's Investors Service

Moody's Investors Service

Financial Institutions Group
AVP - Analyst
Niclas Boheman
Matthias Hellstern
Managing Director
Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group
Managing Director
Matthias Hellstern

Moody’s Events 

Christopher de Ridder

Events Manager

christopher.deridder@moodys.com