Sweden’s real estate woes deepen as top landlord conserves cash

Sweden’s property crisis worsened after one of the country’s biggest commercial landlords took steps to conserve cash and put its focus on selling assets to plug a funding gap. 
Buildings under construction in Stockholm. | Photo: Simon Johnson/Reuters/Ritzau Scanpix
Buildings under construction in Stockholm. | Photo: Simon Johnson/Reuters/Ritzau Scanpix
By Charles Daly / Bloomberg

SBB postponed a dividend and scrapped plans to sell shares in the wake of a credit rating downgrade to junk. Like many other Swedish property companies, the landlord — formally named Samhallsbyggnadsbolaget i Norden AB — is scrambling to refinance debt, but higher interest rates and investor concerns have closed off many options. 

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