SBB lines up hybrid capital in eager market

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By Mike Turner
22 Jan 2020

Samhällsbyggnadsbolaget i Norden (SBB), the Swedish social infastructure and residential property investment company, has mandated banks to lead a €500m no-grow perpetual non-call 5.25 year hybrid capital bond issue. Bankers off the trade expect it to fly.

SBB has hired JP Morgan as global coordinator and structuring agent. Citigroup, Danske Bank, Deutsche Bank and Nordea are also bookrunners. The deal could come as soon as Thursday.

"Hybrids are a flavour of the month at the moment," said a syndicate banker away from the deal. "Spreads are ...

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