Heimstaden has issued a hybrid bond with nominal value of SEK 2 billion. The bond is part of a total bond framework amounting to SEK 5 billion and it has an eternal maturity.
The bond framework is set up in a way that enables the company to issue hybrid bonds in both SEK and EUR. It carry’s an initial coupon of Stibor 3M plus 590 bps.
As mentioned above, the bond has no fixed maturity date and the first possibility of closing the loan is in 5.5 years, Heimstaden announces. It is regarded as equity in the company’s books.
The issue is part of Heimstaden’s financing of its large acquisition in the Netherlands, announced recently.
Carnegie Investment Bank, Swedbank and Gernandt & Danielsson advised Heimstaden in the transaction.