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S&P gives Heimstaden Bostad notes BB+
S&P said it gave its BB+ issue rating to Heimstaden Bostad AB’s planned unsecured subordinated hybrid notes.
The completion and size of the transaction will be subject to market conditions, but the agency said it expects an issuance of up to €600 million.
S&P said it arrived at the rating by deducting two notches from Heimstaden Bostad’s BBB rating with a notch for subordination and another for the option to defer interest.
Heimstaden plans to use most of the proceeds to repay medium-term bonds and secured debt, and any remainder will be used to fund the company's growth.
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