Gernandt & Danielsson has advised Svenska Nyttobostäder AB (publ) (”Svenska Nyttobostäder”) in connection with a restructuring of the capital structure through (i) an exchange offer to the holders of preference shares to exchange their preference shares for ordinary shares (the “Exchange Offer”), (ii) renegotiation and execution of amendment agreements to certain real estate purchase agreements (the “Amendment Agreements”) and (iii) a directed issue of ordinary shares to the sellers under the Amendment Agreements, for a total transaction value of approximately SEK 2.9 billion.

The Exchange Offer was carried out through a simultaneous share redemption and share issuance procedure, through which the holders of preference shares were offered to have their preference shares redeemed against payment in the form of a receivable that could only be used as payment for subscription of new ordinary shares by way of set-off in a directed share issue to the holders of preference shares that chose to have their preference shares redeemed. The Amendment Agreements entailed, among other things, an acceleration of the timing of the completion of certain real estate purchases and a partial pre-payment in ordinary shares for certain other real estate purchases.

Svenska Nyttobostäder owns and manages newly constructed residential properties in Stockholm and has its shares listed on Nasdaq First North Growth Market.

Gernandt & Danielsson advised Svenska Nyttobostäder with a team mainly consisting of partners Mikael Borg, Caroline Jägenstedt Wikman, Gustav Skogö Nyvang and Mikael Bolling, senior associate Fredrik Haräng as well as associates Filip Persson, Josefine Jonsson Tepavac, Viktor Borg, Philip Börnå, Robin Skoglund and Gustav Ericsson.