Heimstaden Bostad issues EUR 600m hybrid capital
Heimstaden Bostad AB yesterday successfully issued a EUR 600 million subordinated perpetual hybrid bond with an annual fixed rate coupon of 3% and a non-call period of 6.6 years. The issue attracted strong interest and the book peaked at more than two times the nominal amount S&P will classify the hybrid as having intermediate equity content and has assigned a ꞌBB+ꞌ rating to the issue. The proceeds will be accounted for as 100% equity by Heimstaden Bostad in accordance with IFRS and will be used for general corporate purposes and to finance the ongoing tender offer to buy back up to EUR