STOCKHOLM (S&P Global Ratings) Sept. 27, 2019--S&P Global Ratings today said that the to-be-issued share class D of Sweden-based residential real estate company Akelius Residential Property AB (BBB/Stable/A-2) is equivalent to its common equity. Akelius has announced its intention to issue a share class D, denominated in euros and listed on the Nasdaq First North Growth Market Stockholm. The share issue is directed to the general public and institutional investors in Sweden and Europe in an amount of €200 million-€400 million. Akelius plans to use the proceeds mainly to replace debt-like instruments in its capital structure. However, we understand that the company will not aim for further material deleveraging, so we expect leverage will be broadly stable. As of June
