NETHERLANDS: Ahold Prices USD 700 Million Yankee Bond
Royal Ahold (NYSE: AHO - news), the international food provider, priced a USD 700 million Yankee Bond, offered by Ahold's wholly owned subsidiary Ahold Finance U.S.A., Inc. The offering, pursuant to Ahold's USD 3 billion shelf registration statement, was priced at 209 basis points over Treasuries, to yield 8.259%. Because of very strong demand, the size of the issue was enlarged from USD 500 million to USD 700 million. The securities will be fully and unconditionally guaranteed by Royal Ahold. The proceeds will be used to refinance existing debt of U.S. Foodservice, acquired by Ahold in April 2000. J.P. Morgan & Co. acted as book runner with Morgan Stanley Dean Witter as joint lead manager.
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