Iceland Bondco gives final results from tender offer for 4 5/8% notes

Chicago, Aug. 1 – Iceland Bondco plc announced the final results from its £500 million tender offer for its £550 million outstanding 4 5/8% senior secured notes due 2025 (ISIN: XS1681806326).

As of the deadline of 11 a.m. ET on July 31, noteholders tendered £495,472,000 principal amount of notes.

All of the notes are being accepted for purchase, including from noteholders who submitted priority acceptance instructions related to the allocation of a new notes offering. All of the tender-only instructions were also accepted.

The purchase price is par, plus unpaid interest to the settlement date.

The Regulation S offer remains subject to the satisfaction of the new financing condition.

Iceland plans to redeem an additional amount of notes, which will be £500 million minus the amount tendered.

Settlement is planned for Aug. 9.

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, iceland@is.kroll.com, https://deals.is.kroll.com/iceland).

The dealer managers are HSBC Bank plc (+44 20 7992 6237, LM_EMEA@hsbc.com) and J.P. Morgan Securities plc (+44 20 7134 4353, liability_management_EMEA@jpmorgan.com).

Iceland, a multi-channel food retailer specializing in frozen food, maintains headquarters in Deeside, U.K.

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