Heimstaden plans euro benchmark in three parts, €1 billion perpetuals

By Marisa Wong

Los Angeles, Oct. 6 – Heimstaden Bostad Treasury BV plans to price a euro-denominated benchmark offering of fixed-rate senior notes (BB+) in three parts, according to a London Stock Exchange notice.

The notes, guaranteed by Heimstaden Bostad AB, will have tenors of three years, six years and 10 years.

Heimstaden Bostad AB also plans to price €1 billion of perpetual subordinated notes (//BB+) in two parts, according to a separate notice.

The company expects to price €500 million of perpetual non-call 5.25-year notes and €500 million of perpetual non-call eight-year notes.

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.

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