SBB keeps corporate sleigh ride going with hybrid and social bonds
Samhallsbyggnadsbolaget i Norden (SBB), the Swedish social property company, has hired banks for €1bn of new deals made up of a hybrid note and debut social bond, as risk appetite remains strong even heading into the middle of December.
SBB, rated BBB-/BBB-, held an investor call on Monday for a €500m eight year debut social bond and a €500m perpetual non-call 5.25 year hybrid deal. The hybrid is expected to be rated BB/BB.
BNP Paribas, Citi, Deutsche Bank, DNB, Goldman Sachs, Morgan Stanley and Nordea arranged the call.The ...