Bel Group: €198.2 million 1.5% bonds due 2024 tendered in offer

By Mary-Katherine Stinson

Lexington, Ky., Jan. 25 – Bel Group reported the results of the tender offer for its €500 million 1.5% bonds due April 2024 (ISIN: FR0013251329), according to a press release.

The group reported that €198.2 million of the bonds were tendered and accepted for purchase by the expiration deadline.

The company originally said it would buy up to €150 million nominal amount of the bonds when the offer was launched on Jan. 17, as previously reported.

Bel conducted the tender offer as balance sheet management and to provide liquidity to bondholders.

The tender offer expired at 10 a.m. ET on Jan. 24.

Settlement is expected for Jan. 27.

After settlement, there are €301.8 million of the bonds outstanding.

Based in Paris, the Bel Group produces cheese and healthy snacks.

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