Netherlands. IKEA Capital B.V.
| Date of agreement: | 18 Aug 2008 |
|---|---|
| Country: | Netherlands |
| Customer: | IKEA Capital B.V. |
| Amount in EUR: | EUR 50 million |
| Maturity: | 8 years |
| NACE sector / loan type: | Retail trade, except of motor vehicles and motorcycles |
Project
The 8-year-maturity loan totalling EUR 50 million has been provided for financing investments in new and relocated IKEA stores in Sweden. Two new stores in Haparanda and Karlstad, Sweden, were opened in 2006 and 2007. Three more stores in Helsingborg, Uppsala and Malmö will be opened in 2009.
The total project cost of the five stores amounts to SEK 1.991 million (approximately EUR 215 million). IKEA’s investments are funded to a minimum of 30% by own capital and a maximum of 70% is borrowed externally.
IKEA, founded in 1943, is a privately held, international home products retailer that sells affordable-price products, including furniture, accessories, bathrooms and kitchens at retail stores around the world. Today, the IKEA chain has 253 stores in 24 countries. At least 22 openings or relocations are planned for 2008. In the Nordic countries, IKEA has 17 stores in Sweden, five in Norway, four in Denmark, two in Finland and one in Iceland.
Sustainability summary
IKEA’s investment in five IKEA stores is being performed in accordance with the Bank’s environmental policy and guidelines. IKEA has provided various policy documents demonstrating the company’s adherence to good environmental practice in each activity.