June 19, 2013 - Assignment

ICA Gruppen issues bonds for SEK 5 billion

ICA Gruppen successfully issued bonds for a total amount of SEK 5 billion on 17 June 2013. The bonds are issued under ICA Gruppen’s recently established MTN programme and have senior unsecured status. The issue is split into two tenors of five and two years maturing on 25 June 2018 and 25 June 2015, respectively. The five-year loan is structured in two tranches – one with fixed interest and the other with floating interest. The fixed-interest tranche carries an annual coupon of 3.5 per cent, while the floating rate tranche carries a quarterly coupon based on the 3-month Stibor rate +1.68 per cent. The two-year loan has a floating rate coupon based on the 3-month Stibor rate +0.85 per cent. This is the largest single issue of bonds on the SEK-market to-date for a non-rated issuer.

Handelsbanken Capital Markets is acting together with Nordea Markets as Joint Bookrunners for the issue. The bonds are listed on NASDAQ OMX Stockholm. Mannheimer Swartling represented the Joint Bookrunners in connection with the establishment of the MTN-programme and the issuance of the bonds. The firm’s team was led by André Andersson and included Rasmus Fahlén, Veronica Stiller, Emilie Andersson and Dijana Malicbegovic.