Mandate

Vinge has advised SBB and Sveafastigheter in connection with an exchange offer

July 09, 2024 Banking and Finance

Vinge has advised Samhällsbyggnadsbolaget i Norden AB (SBB) and Sveafastigheter AB in connection with an exchange offer directed to investors in SBB’s outstanding bonds, whereby investors exchanged senior and hybrid bonds in SBB for new senior bonds issued in Sveafastigheter AB. The existing bonds were partly issued under SBB’s EMTN programme, partly on a standalone basis. Following the transaction, the investors have been slotted in under Swedish bond terms on a standalone basis.

As a result of the transaction, outstanding bonds in SBB in aggregate amounts of EUR 275,039,000, SEK 721,000,000 and NOK 40,000,000 were exchanged for new bonds in Sveafastigheter amounting to EUR 110,900,000 (under a framework of EUR 183,500,000) and SEK 412,500,000. In addition to the instrument exchange, SBB also offered, under certain conditions, a cash component as compensation for the exchange.

Danske Bank A/S, DNB Markets, part of DNB Bank ASA, Sweden branch and Skandinaviska Enskilda Banken AB (publ) acted as dealer managers in connection with the exchange offer.

Vinge's team consisted of Mikael Ståhl, Rikard Lindahl, Lionardo Ojeda, William Kåge, Benjamin Vafaeian, August Ahlin and Filip Magnusson.

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