Heimstaden Bostad - comment

Heimstaden Bostad issued SEK 1.1bn 3yr notes at STIBOR plus 240bps, their first unsecured issuance since early 2022.  The spread is c.120bps wider than their previous SEK issuances but the overall size is relatively positive.   Separately, the Swedish regulator appears to have closed the preliminary investigations into Alecta and their investment in Heimstaden Bostad, stating that there is no case to answer.  Both of these will positively support sentiment towards the Heimstaden entities.