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 101.35% of the nominal value, corresponding to a margin of 606 basis points to first call, lower than the initial floating rate coupon of 3m Stibor + 635 basis points. Total volume outstanding under the framework is SEK 1,100m.
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 101.35% 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, [email protected]
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 October 5, 2018, at 08:35 CET.