Nordiqus secures SEK 8.6bn refinancing

Samhällsbyggnadsbolaget i Norden AB's (publ) (“SBB”) associated company in Education, Nordiqus, has refinanced approximately USD 800m, corresponding to approximately SEK 8.6bn, of its existing bank debt of SEK 16bn with private placement bonds issued directly in SEK and NOK in the US market. The bonds have maturities of 10 to 15 years. This has been made possible by Nordiqus’ financing receiving an investment grade rating based on infrastructure rating methodology.

“As an independent company, Nordiqus has achieved a good credit rating and this refinancing confirms the company's stable financial position and enables us to continue to be a long-term and stable partner as an owner of educational infrastructure,” says Jenny Rehn, CEO of Nordiqus.

“Nordiqus' entry into the capital market has been very impressive, reduced refinancing risks and stable cash flows will be a good for SBB. Strong demand for bonds by large US institutions gave the company favourable financing terms. Several additional institutions are actively working to finance Nordiqus, assuring continued success in the capital markets. This step confirms our strategy to demerge SBB and bring in co-owners in our business areas as we also plan to do with Sveafastigheter,” says Leiv Synnes, CEO of SBB.

Nordiqus is Europe's leading platform for public education infrastructure with growth potential. SBB owns 49.84 percent of Nordiqus, which has a total property value of SEK 38.8 billion as of the end of June 2024. Nordiqus is co-owned with Brookfield Super-Core Infrastructure Partners.

For further information, please contact:
Helena Lindahl, Treasury Director, ir@sbbnorden.se, press@sbbnorden.se

Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region’s leading property company in social infrastructure. The Company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB’s commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. Further information about SBB is available at www.sbbnorden.se.