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Heimstaden Bostad Completes the Buyback of Senior Unsecured Bonds

06 March 2023

Heimstaden Bostad AB has bought back SEK 10,103,299,811 (EUR 907,175,290) of outstanding senior unsecured bonds for a total cash consideration of SEK 9,333,366,687 (EUR 838,042,995). The purpose of the transaction is, among other things, to proactively improve the company’s liability composition and debt maturity profile, and it is fully financed by existing liquidity available to the company and an amount of SEK 3,337,000,000 (EUR 299,629,230) equity raised from new and existing shareholders. The company decided to upsize the transaction and use its existing liquidity for this liability management exercise. The maximum equity commitment of SEK 4,500,000,000 (EUR 404,055,000) was not fully utilised as  certain non-accepted tender bids did not satisfy the company’s liability management target.

Securities

ISIN / Common Code

Repurchased

SEK 1,050,000,000 Floating Rate Notes due 23 November 2023

XS2412109105/241210910

SEK 733,000,000

SEK 2,800,000,000 0.933 per cent. Notes due 23 November 2023

XS2412106002/241210600

SEK 2,168,000,000

SEK 850,000,000 0.875 per cent. Notes due 22 January 2024

XS2420346517/242034651

SEK 750,000,000

EUR 700,000,000 2.125 per cent. Notes due 5 September 2023

XS1958655745/195865574

EUR 95,809,000

EUR 700,000,000 Callable Floating Rate. Notes due 19 January 2024

XS2430702873/2430707287

EUR 192,970,000

EUR 1,250,000,000 0.250 per cent. Notes due 13 October 2024

XS2397239000/239723900

EUR 43,133,000

EUR 700,000,000 0.625 per cent. Notes due 24 July 2025

XS2435603571/243560357

EUR 22,799,000

EUR 500,000,000 1.125 per cent. Notes due 21 January 2026

XS2105772201/210577220

EUR 15,268,000

EUR 700,000,000 1.375 per cent. Notes due 3 March 2027

XS2225207468/222520746

EUR 26,862,000

EUR 750,000,000 1.000 per cent. Notes due 13 April 2028

XS2397252102 / 239725210

EUR 62,598,000

EUR 500,000,000 1.375 per cent. Notes due 24 July 2028

XS2435611244 / 243561124

EUR 14,885,000

EUR 750,000,000 0.750 per cent. Notes due 6 September 2029

XS2384269366 / 238426936

EUR 65,663,000

EUR 750,000,000 1.625 per cent. Notes due 13 October 2031

XS2397252011 / 239725201

EUR 39,365,000

BNP Paribas, Citigroup, Danske Bank, Deutsche Bank, J.P. Morgan and Swedbank acted as dealer managers and Kroll Issuer Services as tender agent.

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