The Magnum Ice Cream Company (TMICC) has issued a debut €3 billion in bonds following its spinoff from Unilever.
The fixed rate senior unsecured notes are split equally into four €750 million tranches, at a 2.750%, 3.250%, 3.750% and 4.000% coupon and due February 2029, November 2031, November 2034 and November 2037 respectively. They have been rated BBB by S&P Global and Baa2 by Moody’s.
Net proceeds will be used for general corporate purposes, including the demerger from Unilever. The order book was oversubscribed over seven times, the company reported.
The issuance forms part of TMICC Finance’s €8 billion Euro Medium Term Note programme.
Abhijit Bhattacharya, TMICC chief financial officer, commented, “Issuing our inaugural public bond is an important milestone for The Magnum Ice Cream Company as we embark on our journey as a standalone ice cream company. The level of interest shown by the market was fantastic, with the order book being oversubscribed by over seven times.”
Shares of TMICC, following the demerger from Unilever, are now trading on Euronext Amsterdam, the LSE and NYSE.
©Markets Media Europe 2025
