NETHERLANDS: Ahold in notes, bonds buyback
Dutch retail group Ahold has repurchased a total of EUR110m (US$148m) in notes and bonds as part of its debt reduction strategy.
The buyback, announced today (11 April) comprises around EUR94m of seven-year notes due 9 May, 2008, and around NLG35m (US$21.3m) of ten-year bonds due 19 December this year.
Ahold said the repurchased notes and bonds, which just under 9% of the outstanding amount of the May 2008 bonds and 11.6% of the December 2007 bonds, will be cancelled.
The buyback and cancellation will leave around EUR969m of the May 2008 notes outstanding. Some NLG265m of the December 2007 bonds will also be outstanding, Ahold added.
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