Törngren Magnell has advised Samhällsbyggnadsbolaget i Norden in connection with its offering of notes of 300 MEUR and in connection with the establishment of its EMTN programme and its offering of notes thereunder of 500 MEUR

Törngren Magnell has advised Samhällsbyggnadsbolaget i Norden AB (Samhällsbyggnadsbolaget) in connection with its offering of perpetual hybrid notes of 300 MEUR. The hybrid notes initially have a fixed interest rate of 4.625 % and has an initial non-call period of 5.25 years. The hybrid notes are intended to be listed on Euronext Dublin.

Deutsche Bank AG, London Branch acted as Structuring Advisor of the transaction. Citigroup Global Markets Limited, Danske Bank A/S, Deutsche Bank AG, London Branch and Nordea Bank Abp acted as Joint Bookrunners. Advokatfirman Törngren Magnell has acted as legal counsel to Samhällsbyggnadsbolaget as to Swedish law, Clifford Chance has acted as legal counsel to Samhällsbyggnadsbolaget as to English law and Allen & Overy has acted as legal counsel to the Joint Bookrunners as to English law.

EMTN Programme

TM & Partners has further adviced Samhällsbyggnadsbolaget in connection with the establishment of its EMTN Programme with a programme limit of 2 500 MEUR and Samhällsbyggnadsbolaget’s first issue of notes under its EMTN Programme. The issue consists of senior unsecured notes of 500 MEUR and has a fixed interest rate of 1.750 % with a maturity of 6 years. The notes have a settlement date on 14 May 2019 and are intended to be listed on Euronext Dublin. The proceeds from the senior notes issuance will be used mainly for repayment of existing secured bank debt and for general corporate purposes.

Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, DNB Bank ASA and Nordea Bank Abp acted Joint Bookrunners in relation to the first notes issue under the EMTN Programme. Advokatfirman Törngren Magnell has acted as legal counsel to Samhällsbyggnadsbolaget as to Swedish law, Clifford Chance has acted as legal counsel to Samhällsbyggnadsbolaget as to English law and Allen & Overy has acted as legal counsel to the Joint Bookrunners as to English law.

Törngren Magnell’s team consisted of:

• Tobhias Brandell, partner
• Louise Wedar, associate
• Mikaela Nordh, associate