the swedish times

You choose

When browsing the Swedish Times online, we utilize cookies along with our partners. Some cookies are essential for website functionality and cannot be disabled, while optional ones enhance your browsing experience and assist in supporting the Swedish Times. This is achieved in collaboration with 2 selected partners.When you make your choice, cookies and other similar technologies may be used to access personal data, including page visits and your IP address. We use this information about you, your devices and your online interactions with us to provide, analyse and improve our services, and depending on how you choose may also include personalising content or advertising.

You can withdraw your consent to the use of cookies at any time by following the link in our privacy policy, which can be found at the bottom of every page on the website. For more information, please see our cookie policy and GDPR policy.
Accept all cookies
Decline all cookies
Customize Cookies

Swedish Landlord SBB Buys Back €417 Million in Bonds to Improve Finances

Written by: Meredith Montgomery
Photo by: Midjourney at CW1 Repository

Last update: 27 november 2023

SHARE: facebook cw1 facebook cw1 facebook cw1

S&P, a company that assesses how well other companies manage their money, has confirmed that Samhallsbyggnadsbolaget i Norden AB (SBB), a Swedish landlord facing financial troubles, still holds a not-so-great credit rating of CCC+.

This confirmation came after SBB repurchased approximately €417 million (which is about $455 million) worth of bonds that were originally due to be paid back in February. While SBB's credit outlook hasn't gotten worse, it remains negative, but they are no longer at risk of a potential downgrade to a "selective default" status.

According to S&P, SBB should be capable of paying off the remaining debt on unsecured notes due in February 2024 due to the bond buyback. However, SBB still faces significant debt challenges in 2024 and 2025, as they have limited available funds and face difficulty in accessing the capital markets.

To alleviate its financial strain and reduce debt costs, SBB is working on selling its assets to raise capital, part of which was used to repurchase the bonds, with the aim of avoiding expensive refinancing.

Source: Bloomberg


Klädpressaregatan 1,
411 05 Göteborg

Download the App
cw1 apple appstorecw1 apple appstore
Follow us

@ 2023 CW1 Inc. All rights reserved