SBB issues hybrid bonds of SEK 100m
Samhällsbyggnadsbolaget i Norden AB (publ) (”SBB”) has issued hybrid bonds with a volume of SEK 100m under its existing framework of SEK 1,500m (ISIN SE0011642776), following continued demand from investors since the initial issue in September 2018. The issue price was 101.8% of the nominal value, corresponding to a margin of 597 basis points to first call, lower than the initial floating rate coupon of 3m Stibor + 635 basis points. The issue price corresponds to an interest rate of 5.48% during the first interest period. Total volume outstanding under the framework is SEK 1,200m.
The hybrid bonds are perpetual instruments and are reported as equity and will also strengthen SBB from a rating perspective, as communicated by S&P in their latest report. SBB thereby continues to lower the financial risk with the objective to meet the criteria for an investment grade rating during 2018.
SBB intends to list the hybrid bonds on Nasdaq Stockholm and the issue proceeds will be deployed towards general corporate purposes.
”The issue price of 101.8% clearly shows that investors appreciate SBB’s efforts in strengthening the financial position of the company” says Ilija Batljan, CEO and founder of Samhällsbyggnadsbolaget i Norden AB.
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 and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above on October 25, 2018, at 16:28 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) 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.