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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.
The chair and another board member at Oscar Properties are leaving the group, the struggling Swedish landlord said late on Thursday, as its problems continue to deepen. The statement...
Oscar Properties: The statement followed news that holders of its senior unsecured bonds were seeking immediate repayment of some 884 million Swedish crowns ($81 million).
The property group, which has been scrambling to cut its debt mountain, recently repaid some bondholders a fraction of what they were owed in a tender offer.
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.