SBB rejects purported and ineffective acceleration notice from a bondholder regarding Eurobonds issued under its EMTN programme

SBB Treasury Oyj and Samhällsbyggnadsbolaget i Norden AB (publ) (together “SBB”) has received a purported acceleration notice from one of the bondholders under the 2020 and 2021 EMTN programme[1] alleging that SBB is in breach of the EMTN consolidated covenant ratio and claim that their holdings of SBB's bonds are due payable. The disclosed holdings represent in total approximately EUR 46 million in nominal amount spread across both series of bonds which corresponds to approximately 1 percent of SBB’s total bond loans as of 30 June 2023. As previously stated in the press release on 31 May 2023, SBB firmly rejects that it is in breach of the EMTN consolidated covenant ratio and as such considers that the acceleration notice received from this Eurobond holder is ineffective.

SBB will continue to take all necessary measures to protect its interests and those of its stakeholders and has for some time engaged experienced legal and financial advisors. It is in SBB’s and all stakeholders’ interest that the company continues its transformation and strengthens its financial position without the distraction of vexatious and unsubstantiated claims.

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

This information constitutes insider information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 9 November 2023 19:38 CET.

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.