Bondholders are impatient by nature, but they’ve shown surprising forbearance toward troubled Swedish landlord SBB as their securities have plunged in value. Now a US hedge fund has broken ranks and wants its bonds repaid early. It’s a brave fight to pick: The adversary is not just the company, but potentially fellow creditors.

Samhallsbyggnadsbolaget i Norden AB, as the company is called, has become the posterchild for real estate woes in Europe. The firm must repay the bulk of its 76 billion Swedish kronor ($6.5 billion) of borrowings over the next six years, and refinancing costs are prohibitive.

QOSHE - A Hedge Fund Picks a Property Fight No One Else Dared - Chris Hughes
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A Hedge Fund Picks a Property Fight No One Else Dared

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15.11.2023

Bondholders are impatient by nature, but they’ve shown surprising forbearance toward troubled Swedish landlord SBB as their securities have plunged in........

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