SBB and Phoenix have entered into an agreement to issue 10,209,678 D-shares and buy back hybrid bonds at a nominal value of SEK 300m
The board of Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB" or "the Company") has, with the support of the issue authorization from the Extraordinary General Meeting on November 5, 2018, decided on a directed new issue of 10,209,678 D-shares at a price of 31.00 SEK per share (the "new share issue"), which means that the company will receive a gross proceed of approximately SEK 316.5m.
Phoenix Insurance Company has subscribed for 10,209,678 D-shares in the new share issue. The company believes that the new share issue creates the best conditions for quickly and efficiently obtaining working capital and thereby increasing flexibility in relation to the Company's equity. The new share issue contributes to SBB approaching an investment grade rating.
At the same time, SBB has agreed to use the received proceeds to repurchase hybrid bonds (ISIN SE0010414599) at a nominal value of SEK 300,000,000. The repurchase price for the bonds corresponds to 105.5 per cent of the bonds' outstanding nominal amounts.
After the repurchase, SBB's holding of the above mentioned hybrid bonds amounts to a remaining nominal amount of SEK 300,000,000.
After the registration of the new share issue of D-shares, the total number of shares in the Company will amount to 797,850,672, of which 209,977,491 is A-shares, 546,071,540 is B-shares, 41,626,390 is D-shares and 175,251 is preference shares. The new share issue entails a dilution of approximately 1.28 percent of the total number of shares in the Company and 0.38 percent of the total number of votes in the Company.
In connection with the new share issue, the Company has engaged ABG Sundal Collier as Sole Lead Manager and Wistrand Law Firm as legal advisor.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, ilija@sbbnorden.se
This information is information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on December 23, 2018, at 21:30 CET.
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. At the beginning of 2018, SBB was named the winner of the Real Estate Company of the Year Award for 2017. The company’s series B shares (short name SBB B), D shares (short name SBB D) 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.