SBB Bond Swap Hailed as Success After 95% of Creditors Agree
- Swedish landlord to issue €2.8 billion of bonds in exchange
- SBB shares rose in early morning trading after announcement
Swedish landlord SBB took a major step toward stabilizing its finances after 95% of its bondholders agreed to swap their existing securities into new notes totaling €2.8 billion ($2.94 billion).
The exchange offer was hailed a success by Chief Executive Officer Leiv Synnes. “We had faith in the majority of our bondholders,” he said in an interview following the announcement.