Fredrik Svensson leaves SBB's Board of Directors

Nordic — The board member Fredrik Svensson has informed the Board of Directors of SBB that he will leave his position in SBB. Fredrik Svensson has been a member of the board since 2018, representing one of SBB’s largest shareholders, Arvid Svensson Invest.

Green light for SBB's transaction with Brookfield

Nordic — Financing condition related to SBB's Brookfield transaction has been fulfilled.

SBB sells to municipality

Sweden Sweden — When Fagersta municipality moved into the old Brukskontoret and Norra Station in the summer of 2021, it was as tenants of the real estate company Offentliga hus. Now, two and a half years later, the municipality is buying the properties from the current owners SBB through a company acquisition. The market value of the properties amounts to SEK 105 million (EUR 9 million).

CEO Leiv Synnes wants a wiser SBB

Sweden Sweden — SBB presents its report against the background of a few turbulent months. During the year, a large sales attempt was carried out to save the company in crisis. Ambition to be wiser and more thoughtful when it comes to liquidity, while also resolving debt.

SBB rejects acceleration notice from bondholder

Sweden Sweden — SBB rejects purported and ineffective acceleration notice from a bondholder regarding Eurobonds issued under its EMTN programme.

Exclusive with the global investor – these are Abrdn's aims for the Nordics

Nordic — In the spring the global investment company Abrdn appointed long time employee Anne Breen as its new head of real estate. In an exclusive interview with Nordic Property News she reveals what the transactions strategy looks like under her helm, how they view real estate in the Nordics and what opportunities they see in a market that has plenty of sellers.

SBB sells to Lovisenberg for EUR 245M

Norway Norway — SBB has sold two properties to the tenant Stiftelsen Diakonissehuset Lovisenberg for NOK 2,815 million (EUR 245 million). The properties being sold are the hospital on Ragnar Ströms Veg 10 in Ullensaker of which SBB owns 100 percent and an adjoining development plot of which SBB today owns 65 percent, co-owning with a local developer.

Leiv Synnes on SBB's latest crisis measures

Sweden Sweden — SBB's CEO Leiv Synnes tells Nordic Property News about Sunday evening's big strategic transaction which means that SBB releases majority control over Educo and presents a new corporate structure. Read about the ambitions with the changes, how the new structure is intended to strengthen the company going forward and the plan for the housing portfolio.

SBB strengthens liquidity and decentralises group structure

Nordic — SBB strengthens liquidity with approximately SEK 8 billion (approximately EUR 729 million) and presents decentralised group structure.

Rosel Ragnarsson retires – Helena Lindahl takes over as Treasury Director of SBB

Sweden Sweden — Rosel Ragnarsson retires and Helena Lindahl who is today part of the management team has successively taken over areas of responsibility within financing and investor relations.

Daniel Tellberg named new Finance Director at SBB

Sweden Sweden — SBB strengthens its group management by appointing Daniel Tellberg as Finance Director. Daniel Tellberg currently holds the position of interim Head of Group Accounting and will take on his new role from the 1st of September. Daniel Tellberg will gradually take over responsibilities from the departing CFO Eva-Lotta Stridh. With this change, the current recruitment process for a new CFO ends.

SBB sells to Nykvarn Municipality

Sweden Sweden — SBBhas entered into an agreement to sell one property containing the town hall and nearby residential buildings in central Nykvarn to Nykvarn Municipality for SEK 191 million (EUR 17.4 million).

Major stock drop for SBB: "A dysfunctional company given the interest rates"

Sweden Sweden — SBB's B share plummeted over 16 percent on Monday and continued to drop slightly during Tuesdays early trading. On Monday evening the credit rating institute Fitch announced that it has lowered SBB's credit rating another five notches, down to B- from the previous BB+. Aktiespararnas analyst Robert Andersson says that SBB in its current form is a dysfunctional company given today's interest rates. "Either the company has to change or it will go under," he tells Nordic Property News.

Swedish police agency wants to terminate lease agreement with SBB and K2A

Sweden Sweden — The police authority wants to leave the agreement regarding the construction of the new police station in Västerås, and the reason stated is that the costs have dragged on, something that the local newspaper VLT was the first to report on. The construction is run by the company Slaggborn, which is owned 50/50 by K2A and SBB, but from the contractor's side they put a lid on the situation and the company's project manager Per Högdin leaves only one comment to Nordic Property News.

SBB's CFO leaves the company

Sweden Sweden — SBB announces that CFO and Deputy CEO Eva-Lotta Stridh has decided to leave her position. Eva-Lotta Stridh has been the CFO of SBB since 2016 and will remain in her position during the period of notice of three months.

SBB shares clarification regarding Q2 report

Sweden Sweden — An editing error in the balance sheet was noticed. SBB corrects the mistake.

SBB considers IPO of residential business

Sweden Sweden — SBB is considering carving out its entire residential business with a portfolio of SEK 36.5 billion (EUR 3.2 billion) for an initial public offering, according to sources to Bloomberg news.

July transaction: SBB sells to Höganäs Municipality for SEK 104 million

Sweden Sweden — In July, SBB entered into an agreement to sell four properties in Höganäs to Höganäs Municipality.

S&P lowers SBB's long-term credit rating to CCC+ with negative outlook

Sweden Sweden — On Friday, S&P lowered SBB's long-term credit rating to CCC+ from BB- with a negative outlook.

SBB has closed the deal with Brookfield

Sweden Sweden — SBB has completed the final accession with Brookfield in the deal that applies to 49 percent of the company's portfolio within social infrastructure for education. Thus, SBB receives approximately 400 million in cash.

SBB enters into LOIs with tenants to sell properties

Nordic — Samhällsbyggnadsbolaget i Norden has entered into LOIs with existing tenants that intend to acquire properties in which the tenants conduct business. The agreed property value in the deals amounts to over SEK 3 billion (approximately EUR 273 million). Signing of binding agreements and closings is planned for the third quarter of 2023.

SBB and FGF sells in Nykvarn

Sweden Sweden — SBB and FGF sells the property Tillbringaren 2 in Nykvarn with a property value of SEK 221 million (approximately EUR 20.1 million).

SBB in discussions to sell its education portfolio

Nordic — SBB enters into exclusive discussions to sell the remaining 51 percent of the social infrastructure portfolio for public education.

Stock expert on SBB's future on the OMXS30 list

Sweden Sweden — On July 1, it is time for Nasdaq Nordic's largest index, OMXS30, to make the next revision regarding which 30 stocks will be included in the coming six months. SBB was included almost a year ago and is one of the most traded shares in the index, but the question is whether the turbulence in the company and the volatility in the share could endanger the company's place in the index? Nordic Property News reviews the factors that could lead to an exclusion and Aktiespararna's general counsel Sverre Linton gives his view on SBB's future in the index.

S&P lowers SBB's credit rating again

Sweden Sweden — The credit rating agency Standard & Poor's downgrades its long-term credit rating on SBB once again, this time to BB- with a negative outlook, from BB+. At the same time, the credit rating for the hybrid bonds is also lowered to B- from B+, while the short-term credit rating B is maintained.