During the pandemic, several companies chose to defer the payment of taxes, employer contributions, and VAT. Åhléns’ tax debt was 800 million Swedish krona in 2023. In spring 2025, the debt was over 700 million krona. To be able to pay off the remaining 578 million krona, the company took out a bond loan of 500 million krona in autumn 2025.
We have also repaid previous tax deferrals related to the pandemic during the year, writes the company's CEO Ayad Al-Saffar in his annual report.
Interest costs millions
The new bond loan runs until the end of April 2029. For the latest financial year, the interest cost for the loan, which has a variable interest rate with a margin of 5 percentage points, was 19 million krona.
The loan will not be amortized during its term of 3.5 years. Instead, the entire amount will be repaid in full at maturity. Interest costs are paid quarterly and are expected to be 35 million krona per year. Until the maturity date, the interest on the loan will cost over 120 million krona.
New market rules
With the new bond loan, Åhléns has a listed bond and is therefore subject to strict market rules. For this reason, the company cannot comment on how the loan is expected to affect future financial results, as they are not allowed to share non-public information.
The company does state, however, that the restructuring of the debt changes their financial planning going forward.
The refinancing provides greater financial stability and enables a greater long-term focus for Åhléns, says Monica Hultgren Andersson, communicator and office manager at Åhléns, to Market.