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Intro and Cap Structure-27 Sep 23

Cash Flow Model - 27 Sep 23

Asset Valuation - 27 Sep 23

Recapitalisation - 27 Sep 23

Investment Discussion - 27 Sep 23
Heimstaden Bostad
Heimstaden AB
Heimstaden Bostad has maintained its positive trajectory, reporting a like-for-like rental growth of 4.5%, which has contributed to a continued
Reaffirming our recent observations that the stress experienced in the European real estate market is now firmly behind us, Heimstaden Bostad is issuing a
Alecta, the largest investor in Heimstaden Bostad, stated that it wishes to reduce its exposure to Heimstaden Bostad by at
[Aengus on behalf of Tomás] Operating cash flow was in line with our forecast at SEK2.4bn, but better-than-estimated asset sales meant that net capex was lower than
The tender offer (at par) for the 2027 bonds has been successful, with €345m of the €400m outstanding tendering. We expect the
Please find our updated analysis on Heimstaden Bostad and Heimstaden AB here.
We re-examined the Heimstaden credit to see if there was any trading opportunity across the structure with upcoming maturities. However, the
Heimstaden AB is issuing a new 5.5-year senior unsecured note, with Deutsche Bank, J.P. Morgan, Nordea Bank, and Swedbank mandated
Heimstaden are issuing a 4-year SEK-denominated bond, hosting a call tomorrow. With the proceeds, Heimstaden Bostad will
Heimstaden Bostad continues to see strong momentum in its occupancy and rental growth, resulting in a 1% increase in property values. LTM Ne
Minor news from Heimstaden Bostad this morning, with the Company tendering for two small NOK bonds. Heimstaden Bostad already owned a significant portion of
Only three questions on the Heimstaden Bostad call this morning, reflecting how the market has moved on. No longer on the stressed list, Heimstaden Bostad’s Q4 numbers continue its
Heimstaden AB has successfully extended its maturity profile cheaper than we had expected. Heimstaden AB issued €430m 5NC3 bonds at 8.375% and
Times have changed. Heimstaden AB, the holding Company, are contemplating an Amend and Extend for its two 2025 SEK bonds and 206 Euro bonds. This
Heimstaden AB, the parent Company of Heimstaden Bostad, has suspended coupon on its Hybrid bonds. With no expectation of dividends from
Heimstaden Bostad sold 380 residential units in Sweden to Hemvist, a fully owned subsidiary of Käpan, the Swedish employee pension fund for