Iceland Bondco calls floating-rate, 6¼% notes for redemption

New York, Sept. 5 – Iceland Bondco plc will redeem its £271.15 million of outstanding senior secured floating-rate notes due 2020 and its £356.5 million of outstanding 6¼% senior secured notes due 2021, according to a notice from the issuer.

Both series of notes will be repaid on Sept. 14.

For the floating-rate notes, the price will be par plus accrued interest up to but excluding the redemption date.

The 6¼% notes will be repaid at 103.125% of par plus accrued interest up to but excluding the redemption date.

Funding for the redemptions will come from an offering of £430 million of new senior secured notes due 2025 and £200 million of new senior secured notes due 2027 plus cash on hand.

Iceland Bondco is a subsidiary of Iceland Topco Ltd., a Deeside, U.K.-based frozen food retailer.

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