Arla successfully issues 1.5 billion SEK bonds
Arla Foods Finance A/S has today successfully priced an issuance of 5-year SEK
bonds for a principal amount of 1.5 billion SEK maturing on 3 July 2023 guaranteed by Arla Foods amba.
The bonds are split into two tranches:
SEK 750 million fixed with a coupon of 1.507%.
SEK 750 million floating rate with a coupon of STIBOR 3 month plus 0.97%
The notes will be issued under the company’s 750 million euro European Medium Term Note (EMTN) programme, which is listed on the Euronext Dublin Exchange. Nordea (B&D) and SEB are lead managers.
The issue refinances elements of Arla's existing debt including 1.5 billion SEK bond matured in the beginning of June 2018.
“This is the fifth time Arla issues bonds in the Swedish market since our inaugural issue in 2011. We have today issued a fixed rate bond with the lowest coupon ever. Arla seeks to have a well-diversified funding base and the Swedish bond market is an important part of our funding portfolio,” says Arla Foods CFO, Natalie Knight.
The issue is targeted professional investors and all bonds are sold