Heimstaden Bostad - comment

Heimstaden Bostad got us excited this morning with what we initially thought was a tender for perpetual bonds. Alas, it is only short-dated unsecured bonds, with Heimstaden tendering for NOK-denominated 2025, 206, and 2028 bonds.  This is funded by the €500m 2029 bond raised in October plus some recent secured debt raised in the Netherlands.  

We still await Heimstaden’s proposal to deal with the perpetual bonds, the first of which has a reset date in February 2025.