ABGSC acted as joint bookrunner in the concurrent issues of mandatory convertible notes and class D shares in SBB for an overall amount of SEK 3.4bn

On 17 July 2020, SBB announced the successful completion of the concurrent issue of subordinated mandatory convertible notes due 2023 for an amount of SEK 2.75 billion, convertible into new class B shares of SBB, and a directed issue of class D shares for an amount of SEK 607 million, raising gross proceeds of around SEK 3.4 billion. The syndicate banks also conducted a simultaneous placement of existing class B shares by way of an accelerated book building process on behalf of certain subscribers of the convertible notes in order to hedge the underlying stock exposure. SBB intends to use the proceeds for general corporate purposes, to increase SBB’s financial flexibility and to accelerate the achievement of its financial targets including a BBB+ rating in H1 2021 and a loan-to-value ratio below 50 percent. ABG Sundal Collier acted as joint bookrunner in all three tranches of the offering.