Akelius Residential Property AB (publ) is looking to issue at least €300 million of hybrid bonds, with room to raise the offering to a benchmark size of €500 million.
S&P Global Ratings said it assigned a BB+ long-term issue rating to the proposed deferrable subordinated hybrid notes. The rating agency added that the proceeds from the issuance will be used to support the company's growth and refinancing needs.
The deal completion and size will be determined on the basis of market conditions, according to the report.
The Swedish real estate company said that Barclays, Danske Bank and Deutsche Bank will arrange investor meetings with regard to the issuance from March 19.
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