Oriola-KD's Medstop subsidiary to redeem SEK 700 million bonds

By Toni Weeks

San Luis Obispo, Calif., June 3 - Oriola-KD Corp. subsidiary Medstop AB issued a call to fully redeem all SEK 700 million of its bonds, according to a company notice.

The bonds will be redeemed at 102.75 plus accrued interest on July 2. Bondholders of record as of June 25 will have a right to payment.

The bonds will cease to trade on June 19 and will be de-listed from the Frankfurt Stock Exchange.

The redemption will be financed by existing credit facilities.

The call for redemption follows Oriola-KD's June 3 acquisition of the Medstop pharmacy chain for SEK 1,460.

The Espoo, Finland, company is a pharmaceutical retail and wholesale company in Finland, Sweden and Russia.

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