Sweden’s Tobin says holders may put SEK 800 million of two series

By Susanna Moon

Chicago, April 6 – Tobin Properties AB notified holders of a put option under its SEK 300 million senior secured floating-rate bonds due March 30, 2021 and its SEK 500 million senior secured callable bonds due 2019.

The notes are putable at 101 because of a change of control that occurred when Klovern AB’s indirect wholly owned subsidiary Dagon Sverige AB became the indirect shareholder of about 56.9% of the share capital of the issuer, according to two separate announcements.

Holders may exercise the put option until 10 a.m. ET on June 11.

The notes due 2019 were issued on July 1, 2016 and the floaters due 2021 were issued in March 30, 2017.

Tobin develops real estate properties and is based in Stockholm, Sweden.

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