Swedish Real Estate Conference

Tuesday, September 18, 2018

September 2018

Conference

Swedish Real Estate Conference

Are we at the top of the real estate cycle?

Wednesday, April 25, 2018 | 11AM EDT | 3PM BST | 4PM CEST

Swedish Real Estate Conference

Are we at the top of the real estate cycle?
Tuesday, September 18, 2018
September 2018
Finlandshuset
Stockholm

Swedish Real Estate Conference

Are we at the top of the real estate cycle?

Tuesday, September 18, 2018
September 2018
Finlandshuset
Stockholm

Swedish Real Estate Conference

Are we at the top of the real estate cycle?

Tuesday, September 18, 2018
September 2018
Finlandshuset
 
Stockholm
Stockholm

Swedish Real Estate Conference

Are we at the top of the real estate cycle?

Tuesday, September 18, 2018
September 2018
Finlandshuset
Stockholm

Swedish Real Estate Conference

Are we at the top of the real estate cycle?

Tuesday, September 18, 2018
September 2018
Finlandshuset
Stockholm

The Swedish property market remains strong with comparable transaction levels to 2017, and increasing rents, albeit at a slightly slower rate.  Does this mean that the top of the real estate cycle has been reached and a downturn can be expected?  How will this impact the housing market as it slows?

Join Moody’s Real Estate Conference to gain the latest insights on Swedish real estate companies’ creditworthiness and financial stability, as well as understanding how environmental factors may impact credit analysis, and the trends, risks and opportunities for the bond markets this year.

To access the event in Swedish, please click here.

Agenda

08.30         Registration & Coffee

09.00          Welcome Address: Matthias Hellstern, Managing Director, Corporate Finance Group

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

09.10           Presentation: Moody's Outlook for Credit Quality in the Real Estate Sector (Swedish)

  • Outlook for the credit quality
  • Several of the real estate companies Moody’s rates are on positive outlook, is this driven by company specific fundamentals or the view on the sector?
  • Strengths and weaknesses for the Swedish Real Estate companies in a European perspective

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

09.35           Panel Discussion: Are we at the Top of the Cycle or have we Passed it? (Swedish)

  • Weakening albeit relatively strong GDP; possible increasing interest rates and margins
  • Status on the property market and proposed tax changes
  • The Banks’ appetite for real estate exposure
  • Event risks: Households indebtedness, project developers credit quality (significant to cause banks problems?), potential reduced consumer spending and decreasing     residential construction a threat to GDP
  • What would be the credit quality implications for real estate companies?

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

Arvid Lindqvist, Head of Research, Catella Corporate Finance

Urban Håkansson, Head of Real Estate Sector, Swedbank

Louise Lundberg, Senior Credit Officer, Banking

Niclas Boheman, Assistant Vice President – Analyst, Banking

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

10.10          Keynote Panel Discussion: Financial Stability: Potential Risks for Commercial Real Estate? (Swedish)

  • ‍What are the largest threat for the financial stability? What is base and stress case for this development?
  • What are the large risks for banks when it comes to households and commercial real estate?
  • If the investors’ appetite towards the banks covered bond is reduced, how will liquidity be supplied?
  • Rising interest rates through reduction in quantitative easing, increasing interest rates in Europe - can Sweden act independently to limit risks to households?  
  • Sweden has negative interest rates, is the interest rate weapon exhausted?
  • Will it be more regulations to come for households?

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

Kerstin af Jochnick,  First Deputy Governor, Riksbank

Henrik Braconier, Chief Analyst, Swedish FSA

10.55         Networking & Coffee Break

11.20           Panel Discussion: Bond Market Insights (Swedish)

  • What are the trends, risks and opportunities on the bond market?
  • The amount of rated real estate companies is increases, would this lead to funding diversification into different markets?
  • Green bonds issuance is rapidly increasing, will this displace other bonds?   

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

Ulrika Danielson, CFO, Castellum

Louis Landeman, Chief Analyst, Danske Bank

Helena Lindahl, Portfolio Manager, Storebrand

Christer Nerlich, CFO, Vasakronan

12.00           Spotlight Conversation: International View on the Swedish Real Estate Companies

Led by Moody’s representative

Guest Speakers to be announced

12.20            Presentation: Carbon transition: Risks but mostly an advantage for Real Estate (Swedish)

  • The rules of the game for new properties when it comes to legislation is known but there is no plans to include existing properties
  • Companies voluntary adopting to stricter environmental frameworks would increase competitiveness, profitability and achieve favourable financing costs.

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

12.40           Closing Remarks:  Matthias Hellstern/Marie Elvesol

12.45           Light lunch

Speakers

Moody's Speakers

Olivier Chemla

Vice President - Senior Analyst

Moody's Investors Service

Moody's Investors Service

Vice President - Senior Analyst

Olivier Chemla

After serving the French public administration in several positions (including as Senior Adviser to Valérie Pécresse, Minister for the Budget and Public accounts) between 2007 and 2012, Olivier was appointed Chief Economist of the French leading Business Association (Association francaise des entreprises privées) in the summer of 2012. He joined the Moody’s Sovereign Department in Frankfurt as Vice-President/Senior Analyst in May 2018.

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Marie Elvesol

Head of Relationship Management for the Nordics

Moody's Investors Service

Moody's Investors Service

Head of Relationship Management for the Nordics

Marie Elvesol

Marie Elvesol is part of the Commercial Team in EMEA and is responsible for Moody’s Investors Service’s Stockholm office and outreach activities in the Nordics. She serves as the point of contact to issuers and other market participants in Sweden, Denmark, Norway, Finland and Iceland.

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Maria Gillholm

Vice President – Senior Credit Officer

Moody's Investors Service

Moody's Investors Service

Vice President – Senior Credit Officer

Maria Gillholm

Maria Gillholm is a VP-Senior Credit Officer in the Corporate Finance team and has worked with Moody’s in Sweden since March 2017. She is the lead analyst for Nordic real estate issuers.

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Matthias Hellstern

Managing Director, Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Managing Director, Corporate Finance Group

Matthias Hellstern

Matthias Hellstern, Managing Director, has been with Moody’s Deutschland GmbH in Frankfurt since October 2004. Matthias is Team Leader in the European Corporate Finance Group heading the Frankfurt-based analytical team focusing on manufacturing industries. The principal industries covered by his team include Auto, Capital Goods, Paper and Packaging, and Building Materials. He is also managing teams in London and Stockholm that are covering the Real Estate, Shipping and Airlines sectors.

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Louise Lundberg

Vice President - Senior Credit Officer

Moody's Investors Service

Moody's Investors Service

Vice President - Senior Credit Officer

Louise Lundberg

Louise joined Moody’s in November 2016, and is the lead analyst for the large Swedish and Danish banks. Prior to joining Moody’s, Louise spent nine years at Standard & Poor’s. She initially worked as a senior credit analyst in the Sovereign and International Public Finance Group, and thereafter in the Financial Institutions Group - in the midst of the global financial crisis. The last 4 ½ years at S&P, Louise headed up the rating agency’s Banking Industry Country Risk Assessments (BICRAs), the key element of bank ratings, globally.

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Further Information

Moody’s Events 

Eleanor Mcintosh

Events Manager

+44-207-772-1559

eleanor.mcintosh@moodys.com