SBB establishes a joint venture for community properties with Castlelake generating cash proceeds to SBB of approximately SEK 5.2 billion
Samhällsbyggnadsbolaget i Norden AB (publ) (”SBB”) has agreed to enter into a joint venture, SBB Infrastructure AB[1] (”SBB Infrastructure”), together with funds managed by global alternative investment manager Castlelake, LP (”Castlelake”). In connection with the establishment of the joint venture, SBB Infrastructure has entered into a loan agreement with Castlelake, supported by Atlas SP Partners (“Atlas”), for approximately SEK 5.2 billion.[2] SBB Infrastructure will use a part of the loan proceeds to acquire properties from SBB and a part to refinance debt to SBB (the “Transaction”).