SBB Shares and Bonds Rally on $3.4 Billion Care Home Sale

SBB shares and bonds jumped after the Swedish real estate group struck a $3.4 billion deal to sell its care home portfolio to Public Property Invest AS, a Norwegian property firm closely linked to SBB.

Shares in Samhallsbyggnadsbolaget i Norden AB — as the group is formally known — surged as much as 20% and were up 10% at 10:30 a.m. in Stockholm. Its €873 million bond due 2029 increased 4 cents on the euro to 81.1 cents, the most since it was issued in December.