Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB” or the “Company”) notes the press release that Valerum AB (publ) (“Valerum”) published on 5 October 2023, regarding Valerum not paying the interest on its outstanding secured bond that was due on 5 October 2023 and that this could actualize SBB’s repurchase commitment according to the terms. SBB has given a commitment to the investors in Valerum’s secured bond whereby SBB has committed to buy the holders’ bond at 100 percent of nominal value including accrued and unpaid interest in the event of a breach of the loan terms. As of the date of the press release, the outstanding amount under the bond amounts to SEK 272,114,032 and accrued and unpaid interest to SEK 5,394,365.
Summary of Valerum’s secured bond and SBB’s repurchase commitment
On 30 October 2020, Valerum, a subsidiary of Oscar Properties Holding AB (publ) (“Oscar Properties“), issued a senior secured bond of SEK 710,000,000 with ISIN:SE0015192190 (the “Bond“). SBB has given a commitment to the investors in the Bond whereby SBB has committed to buy the holders’ Bonds at 100 percent of nominal value including accrued and unpaid interest in the event of a breach of the loan terms. As of the date of the press release, outstanding amounts under the Bond amount to SEK 272,114,032 and accrued and unpaid interest to SEK 5,394,365. SBB will ensure that it fulfils its commitment in accordance with the terms of the Bond in the event that this becomes actualized.
In the event that SBB repurchases the Bonds, SBB will step into the Bondholder’s place and thereby take part in the securities pledged under the Bond.
SBB’s other commitments with Oscar Properties
In addition to the repurchase commitment, SBB has the following commitments with Oscar Properties:
- SBB has invested SEK 88,750,000 in Oscar Properties senior unsecured bond 2021/2024 ISIN:SE0016275143.
- SBB has a joint venture with Oscar Properties.
For further information, please contact:
Helena Lindahl, Treasury director, [email protected], [email protected]
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.