The investor interest for the transaction was significant, and the issue was oversubscribed 1.7 times. The new bonds consist of SEK 1.5 billion with three years to maturity and SEK 1 billion with five years to maturity, with both fixed and floating rate tranches. With today’s transaction, ICA Gruppen has concluded three bond issues during 2023, for a total amount of SEK 9.5 billion.
DNB Markets and Handelsbanken acted as Joint Bookrunners on the transaction. The new bonds will be listed on Nasdaq Stockholm.
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ICA Gruppen AB (publ) is one of the leading retail companies in the Nordics with a focus on food and health. The Group includes ICA Sweden and Rimi Baltic which mainly conduct grocery retail, ICA Real Estate which owns and manages properties, ICA Bank which offers financial services, ICA Insurance and Apotek Hjärtat which conducts pharmacy operations. In 2022, ICA Gruppen had a turnover of approximately SEK 136 billion.