SBB successfully issues its first EUR 700 million social floating rate notes with a negative yield at issuance
Samhällsbyggnadsbolaget i Norden AB (publ) (”SBB”) has today successfully issued EUR 700 million floating rate notes in social format. The social notes have a maturity of two years with a call option at par after approximately one year and carry a floating rate coupon of 3-month EURIBOR plus 55 bps. The offering was priced with a spread to maturity of 3-month EURIBOR plus 49 bps (equivalent to a spread to call of 3-month EURIBOR plus 43 bps), marking SBB’s first bond issuance at a negative yield at the time of issuance as well as the first social bond issued in this callable format. The