SBB: The buyback will trim the struggling property company s debts, which amounted to some 62 billion Swedish crowns ($5.9 billion) at the end of last year.
SBB, which has racked up vast debt by buying public property, said in November it was looking for equity partners to help reduce its debt, as it tries to strengthen its financial stability and streamline operations.
SBB Debt: SBB has agreed to buy back 417.2 million euros of its debt for 403.8 million euros, SBB said, having previously announced a purchase up to a maximum of 600 million euros.
Loss-making SBB is at the centre of a Swedish property crash, having racked up vast debt by buying public real estate, including social housing, government offices, schools and hospitals.
Loss-making SBB, which is at the centre of a wider Swedish property crash, said on Thursday it would offer to buy back hybrid and senior securities for up to $650 million as the group looks to cut debt on its balance sheet.