Delhaize begins tender offer for $300 million of 5.875% notes due 2014

By Toni Weeks

San Diego, Nov. 20 - Delhaize Group said it began a cash tender offer for up to $300 million principal amount of its outstanding 5.875% senior notes due Feb. 1, 2014.

The purchase price will be calculated at 11 a.m. ET on Nov. 29 and will be determined by reference to a fixed spread of 50 basis points over the reference yield based on the bid-size price of the 0.25% U.S. Treasury note due Jan. 31, 2014.

The offer expires 5 p.m. ET on Nov. 29. Tenders may be withdrawn at any time until the expiration date. Settlement is expected to occur Dec. 3.

The company said it plans to redeem any notes that remain outstanding after completion of the tender offer.

Bank of America Merrill Lynch (888 292-0070 or collect 980 387-3907) and J.P. Morgan Securities LLC (866 834-4666 or collect 212 834-2494) are the dealer managers. D.F. King & Co., Inc. (800 290-6427 or banks and brokers call 212 269-5550) is the information and tender agent.

Delhaize is a food retailer based in Brussels.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.