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 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.