By Marisa Wong
Los Angeles, Oct. 7 Heimstaden Bostad Treasury BV priced 2.75 billion of fixed-rate senior notes (BB+) guaranteed by Heimstaden Bostad AB in three parts, according to a London Stock Exchange notice.
Heimstaden Bostad Treasury priced 1.25 billion of three-year notes at 99.988, 750 million of six-year notes at 99.732 and 750 million of 10-year notes at 99.854.
According to a separate notice, Heimstaden Bostad AB priced 600 million of perpetual non-call 5.25-year subordinated notes at 99.426.
The company had initially offered 1 billion of perpetual subordinated notes (//BB+) in two parts. The company had expected to price 500 million of perpetual non-call 5.25-year notes and 500 million of perpetual non-call eight-year notes, as previously reported.
The perpetual non-call eight-year tranche has been dropped, according to Thursdays notice.
J.P. Morgan AG, BNP Paribas, Citi, Danske Bank, Deutsche Bank, ING, Nordea, Nykredit, Svenska Handelsbanken, Swedbank and Unicredit are the managers for both offerings.
The real estate company is based in Malmo, Sweden.
Company: | Heimstaden Bostad
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Amount: | 3.35 billion
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Issue: | Senior and subordinated notes
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Bookrunners: | J.P. Morgan AG, BNP Paribas, Citi, Danske Bank, Deutsche Bank, ING, Nordea, Nykredit, Svenska Handelsbanken, Swedbank and Unicredit
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Announcement date: | Oct. 7
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Listing: | Euronext Dublin
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Three-year notes
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Issuer: | Heimstaden Bostad Treasury BV
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Guarantor: | Heimstaden Bostad AB
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Amount: | 1.25 billion
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Description: | Fixed-rate senior notes
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Maturity: | Three years
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Price: | 99.988
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Rating: | S&P: BB+
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Six-year notes
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Issuer: | Heimstaden Bostad Treasury BV
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Guarantor: | Heimstaden Bostad AB
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Amount: | 750 million
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Description: | Fixed-rate senior notes
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Maturity: | Six years
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Price: | 99.732
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Rating: | S&P: BB+
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10-year notes
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Issuer: | Heimstaden Bostad Treasury BV
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Guarantor: | Heimstaden Bostad AB
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Amount: | 750 million
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Description: | Fixed-rate senior notes
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Maturity: | 10 years
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Price: | 99.854
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Rating: | S&P: BB+
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Subordinated notes
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Issuer: | Heimstaden Bostad AB
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Amount: | 600 million
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Description: | Perpetual non-call 5.25-year subordinated notes
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Price: | 99.426
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Call: | After 5.25 years
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Rating: | Fitch: BB+
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