No date is specified for when the interest payments can be resumed, Due dates for the repayments are March 15, June 15, September 15 and December 15 annually.
A hybrid bond is subordinated to other liabilities and is regarded as precisely a hybrid between borrowed and equity capital.
Ilija Batljan is CEO of SBB. Through the investment company, he controls 18.4 percent of the votes and owns 4.8 percent of the capital in the real estate company, whose stock has been downgraded to junk status in recent weeks by two international credit rating agencies. Earlier this week, SBB’s board decided that the company should be sold, in whole or in part.