The troubles at one of Sweden s largest commercial landlords are unfolding as the country attempts to ride out a persistent property crisis, triggered by high debts, rising interest rates and a wilting economy.
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.