London-listed property company CLS has raised SEK 300 mln (EUR 33.4 mln) by issuing an unsecured and unrated bond in Sweden. The net proceeds of the bonds, due in 2016, will be used for general corporate purposes.

The bonds carry a floating rate coupon of 3.75% above three months' STIBOR, payable quarterly in arrears. CLS will apply for listing of the bonds on the NASDAQ OMX Stockholm Stock Exchange no later than 30 September 2011.

CLS has assets in London, Sweden, France and Germany.

Carnegie Investment Bank in Sweden acted as sole lead manager and bookrunner.