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Iceland Bondco satisfies conditions to redeem 6¾% notes due 2024
By Taylor Fox
New York, Feb. 22 – Iceland Bondco plc and Iceland VLNCO Ltd. plan to fully redeem their outstanding £170.16 million 6¾% senior secured notes (ISINs: XS1087780166 and XS1087783004) following the satisfaction of conditions, according to a company announcement.
The redemption was subject to conditions, including completion of the issuance of £250 million of senior secured notes prior to the redemption date and receipt of an amount equal to the redemption price by the principal paying agent prior to the redemption date.
The notes will be redeemed on Feb. 23 at 102.25 plus interest totaling £4,083,840.
Citibank, NA, London Branch (+353 1 622 2210, +353 1 622 2212) is the trustee, principal paying agent registrar, transfer agent and registration agent while HSBC Corporate Trustee Co. (UK) Ltd. is the security agent.
Iceland Bondco is a subsidiary of Iceland Topco Ltd., a Deeside, U.K.-based frozen food retailer.
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