Samhällsbyggnadsbolaget i Norden AB enters as new issuer of the subsidiary's outstanding notes with symbol SBBIN 002
Samhällsbyggnadsbolaget i Norden AB's (publ) (”SBB” or the ”Company”) subsidiary SBB i Norden AB (the ”Subsidiary”) initiated a written procedure in order to formally vote on (i) a change of issuer under the notes with symbol SBBIN 002 (the ”Notes”) in accordance with the terms and conditions, dated 29 March 2017 (the ”Terms and Conditions”), whereby the Company replaces the Subsidiary as issuer under the Notes and assumes the Subsidiary's rights and obligations thereunder as well as under the other Finance Documents (as applicable) and (ii) amendment and restatement of the Terms and Conditions in order to execute and reflect such a change of issuer (the ”Issuer Change”). The written procedure was concluded on 23 January 2018 when noteholders with a sufficient number of votes gave their formal consent to the proposals presented in the summons to the written procedure.
The Issuer Change will not be effective until redemption or repayment is made in full of the Subsidiary's notes with symbol SBBIN 001 and the Company replaces the Subsidiary as issuer under the Notes and the Terms and Conditions reflecting the Issuer Change. The final maturity date for the Subsidiary's notes with symbol SBBIN 001 was 23 June 2018 and repayment was made on 25 June 2018.
The Company and the Subsidiary has entered into an amendment and restatement agreement to the Terms and Conditions in order to execute and reflect the Issuer Change with Nordic Trustee. Further, the Company, in its capacity as new issuer, and Nordic Trustee, in its capacity as agent of the noteholders, entered into amended and restated terms and conditions dated 3 July 2018, which are available on the Company's website (www.sbbnorden.se).
The Company can announce that all conditions are satisfied in order to complete the Issuer Change. The registration of the Issuer Change with Euroclear will be initiated on 9 July 2018 and completed on 10 July 2018, when the Company will be registered as issuer of the Notes in the system of Euroclear. The Notes will then continue to be listed on the corporate bond list of Nasdaq Stockholm under symbol SAMN 005.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, ilija@sbbnorden.se
About Samhällsbyggnadsbolaget i Norden AB (publ)
The company’s strategy is to own, manage and develop community service properties throughout the Nordic region and rental apartments in growth regions in Sweden. Through the company's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the company an attractive long-term partner. SBB was named the winner of the 2017 Real Estate Company of the year Award. The company’s series B shares (short name SBB B) and preference shares (SBB PREF) are listed on Nasdaq First North Premier. Certified Adviser is Erik Penser Bank (www.penser.se). More information about the company is available at www.sbbnorden.se.