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Törngren Magnell has advised Samhällsbyggnadsbolaget i Norden in connection with its offering of hybrid notes of SEK 400 million, within a total issuance frame of SEK one billion

Törngren Magnell has advised Samhällsbyggnadsbolaget i Norden AB (Samhällsbyggnadsbolaget) in connection with its offering of perpetual hybrid notes of SEK 400 million, within a total issuance frame of SEK one billion. The notes initially have a floating interest rate of STIBOR 3M + 7.00 %. The notes are intended to be listed on the Nasdaq Stockholm or any other regulated market.

“This issue, and especially the over-subscribed book, demonstrates that the institutional investors show further support for the company and our investment strategy. Samhällsbyggnadsbolaget issues as the second real estate company in the Nordic area, under documentation that from a rating perspective is expected to strengthen the equity capital corresponding to half of the issued amount, which will strengthen the financial position toward the object of receiving an “investment grade” rating by the end of 2018.” says Ilija Batljan, CEO and founder of Samhällsbyggnadsbolaget.

Nordea has acted as financial advisers to Samhällsbyggnadsbolaget. Advokatfirman Törngren Magnell has acted as legal counsel to Samhällsbyggnadsbolaget. Advokatfirman Vinge has acted as legal counsel to Nordea.

Törngren Magnell’s team consisted of Tobhias Brandell, partner, Viktor Olsson, senior associate, and Louise Wedar, associate.

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