S&P rates Heimstaden Bostad notes BB

S&P said it assigned a BB rating to Heimstaden Bostad AB’s proposed unsecured subordinated hybrid notes of at least benchmark size.

“We understand that the company aims to issue the subordinated notes in several tranches, in euros and in Swedish krona,” S&P said in a press release.

Proceeds will be used to repay secured debt and finance expansion.

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