EPRA clarifies that D-shares are included in common equity
European Public Real Estate Association (EPRA) recently published the new key ratio EPRA LTV with the aim of creating a comparable LTV ratio in the real estate industry. Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") has noted that some market participants have interpreted the basis for the new key ratio as that ordinary shares of series D should be considered as debt. SBB has today received a clarification from EPRA that this is not the case. This means that EPRA, like the rating agencies, count D-shares as equity, which they are. EPRA has also made this clear in its FAQ