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Industrivarden announces final terms of SEK 4.40 bln exchangeable bonds issue


Thursday, 8 May 2014 09:15am EDT 

Industrivarden AB:Announces final terms of the placement of 4.40 billion Swedish crowns senior, unsecured bonds (the Bonds) due 2019 exchangeable into existing ordinary shares of ICA Gruppen AB (the Shares).Says the Bonds will carry a five-year maturity and will not bear interest.The Bonds will be exchangeable into the shares at an initial exchange price of 300.00 crowns , representing a premium of about 38 percent above the volume weighted average price of the Shares on NASDAQ OMX Stockholm between launch and pricing.The Bonds will be issued at 100 percent of the principal amount in cash and, unless previously exchanged, redeemed or purchased and canceled, will be redeemed at par on May 15, 2019.Bondholders may elect to exchange their Bonds for Shares subject to the company’s right to elect to deliver an equivalent amount in cash for all or part of the Shares.The number of Shares initially underlying the Bonds represents about 7 percent of ICA’s total share capital.Settlement of the Bonds is expected to occur on or around May 15. 

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