Event Publicly Available Information:
The Eligible Market Participant who submitted the DC Question provided the following links in support of their question:
Company’s press release: https://newsserviceweb.oslobors.no/message/67707
Fitch ratings report: https://www.fitchratings.com/research/corporate-finance/fitch-downgrades-sbb-parent-idr-to-ccc-unsecured-debt-to-cc-maintains-rating-watch-negative-20-12-2024
Date | Description | Document |
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Closed | EMEA DC Meeting Statement - 22 January 2025 The EMEA DC considered the announcement of Samhällsbyggnadsbolaget i Norden AB (SBB) dated 18 December 2024. The EMEA DC noted that certain notes issued by SBB were subject to an exchange offer. The EMEA DC noted that the documentation available on SBB’s website provides that the new notes under the exchange offer are issued by Samhällsbyggnadsbolaget i Norden Holding AB (SBB Holding) and are guaranteed by SBB. Under Section 2.2(d) of the 2014 Definitions, an entity will only succeed to the Relevant Obligations of SBB if the “Reference Entity is not thereafter a direct obligor or a provider of the Relevant Guarantee with respect to such Relevant Obligations or such Exchange Bonds or Loans, as applicable.” The EMEA DC considered the terms of the guarantee provided by SBB in respect of the new notes and concluded that SBB had not ceased to be a provider of a Relevant Guarantee with respect to such Relevant Obligations or such Exchange Bonds or Loans, as applicable. Accordingly, SBB remains the Reference Entity in respect of 2014 Transactions referencing SBB. | |
Request Accepted by DC | Pursuant to the standing resolution passed by the EMEA Determinations Committee (DC) on June 21, 2010, the first meeting of the EMEA DC to deliberate the DC Questions relating to this DC Issue has been deferred pending deliberation of such DC Questions by the EMEA DC legal subcommittee. Please refer to EMEA_DC_Standing_Resolution_210610. | |
Pending DC Consent |