ICA Gruppen issues SEK 3.5 billion in bonds
ICA Gruppen has successfully completed a bond issue of SEK 3.5 billion under the company's Swedish MTN programme.The transaction was met with high demand, being more than two times oversubscribed. The bonds are split between two tenors of SEK 1.5 billion for 2 years and SEK 2.0 billion for 4 years, each with both fixed and floating tranches. Proceeds from the issue will be used to refinance maturing bonds of SEK 1.7 billion, as well as to amortise existing bank facilities. Handelsbanken, SEB and Swedbank acted as Joint Bookrunners for the issue. The bonds will be listed on Nasdaq OMX