Swedish real estate group SBB to buy back debt at 60% discount

The logo of SBB is seen at the company's headquarters in Stockholm, Sweden, September 14, 2023. REUTERS/Marie Mannes/File Photo

STOCKHOLM: Swedish real estate group SBB says it will buy back debt at a discount of 60% compared with the debt’s original value, in an attempt to calm investors’ nerves as it scrambles to tackle a multi-billion-dollar debt pile.

The property group said it would pay €162.7mil (US$176mil) to buy back €407.7mil worth of debt.