ICA Gruppen, together with Murgröna Holding AB (Murgröna), which owns ICA Gruppen by 100%, signed a new credit facility worth a combined amount of SEK 22.5 billion as borrower and guarantor.
The facility is the first step in the refinancing of the bridge financing of SEK 39.5 billion that was secured by Murgröna in connection with the public takeover offer for ICA Gruppen that was made on 10 November 2021. The facility encompasses two loans for Murgröna worth SEK 8.75 billion each with maturities of three and four years, respectively, and a revolving credit facility of SEK 5 billion for ICA Gruppen and Murgröna with a maturity of four years.
As communicated in connection with ICA Gruppen’s publication of its interim report for the first quarter of 2022, the intention is that Murgröna will be merged into ICA Gruppen. This is planned to take place during the fourth quarter of 2022. During the period until the merger has been completed, ICA Gruppen may potentially also guarantee the rest of the bridge financing in Murgröna.
The new credit facility has been arranged by Handelsbanken Capital Markets and Skandinaviska Enskilda Banken AB (publ) in their role as coordinators and bookrunners, and is provided by ICA Gruppen’s relationship banks, which are:
Svenska Handelsbanken AB (publ), Skandinaviska Enskilda Banken AB (publ), Danske Bank A/S, DNB ASA, Sweden Branch and Swedbank AB (publ).