US Hedge Fund Tells Swedish Landlord SBB to Pay Back Bonds (1)

Embattled Swedish landlord SBB is facing an inflection point after Fir Tree Partners demanded its money back, according to a person familiar with the matter. This marks the first such written notice for the property company.

The New York-based hedge fund sent a letter to Samhallsbyggnadsbolaget i Norden AB — as the firm is officially known — saying it was in breach of a key debt term, said the person who asked not to be identified because they’re not authorized to speak publicly about it.

The holdings in question total about €46 million ($49.2 million) in two series of euro-denominated ...