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ICA Gruppen calls SEK 3.3 billion in preference shares issued in 2013
By Wendy Van Sickle
Columbus, Ohio, June 4 – ICA Gruppen has called SEK 3.3 billion in preference shares issued in
December 2013 in the subsidiary ICA Fastigheter Sverige AB, according to a company news release.
Redemption will take place at 110% of the subscription price with a record date of July 15 and a payment date of July 20, according to the release.
The preference shares were issued as part of the refinancing of a bridge loan related to the acquisition of ICA AB in spring 2013, the company said. The unlisted preference shares are held in equal parts by AMF
Pensionsförsäkring AB and If Skadeförsäkring AB.
The company said it will replace the preference shares with “a more cost-effective solution” to address mounting interest debt.
ICA Gruppen is a Solna, Sweden-based food retailer.
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