Troubled Real Estate Firm SBB Faces Bond Repayment Demand
- Fir Tree Partners’ letter says firm breached key debt term
- SBB firmly rejects the claim, says notice is ineffective
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Embattled Swedish landlord SBB is facing an inflection point after Fir Tree Partners demanded its money back, according to a person familiar with the matter. This marks the first such written notice for the property company.
The New York-based hedge fund sent a letter to Samhallsbyggnadsbolaget i Norden AB — as the firm is officially known — saying it was in breach of a key debt term, said the person who asked not to be identified because they’re not authorized to speak publicly about it.