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Iceland Bondco to redeem £5 million of floating-rate notes due 2020
By Marisa Wong
Los Angeles, Nov. 8 – Iceland Bondco plc will redeem £5 million of its £45 million of outstanding senior secured floating-rate notes due 2020, according to a notice from the issuer.
The notes will be redeemed on Nov. 18 at par plus accrued interest up to but excluding the redemption date.
Iceland Bondco will carry out the redemption by repaying 11.11111111111% of the current outstanding principal amount of the notes.
Following the transaction, £40 million of the original £350 million principal amount will remain outstanding.
Iceland Bondco is a subsidiary of Iceland Topco Ltd., a Deeside, U.K.-based frozen food retailer.
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