Dutch retailer Ahold has successfully closed its €1bn (US$1.2bn) bond buyback offer, the company said today [Thursday].


The buyback was launched 11th October in a bid to regain the investment-grade debt rating it lost following a scandal over profit overstatement two years ago.


Due to the response to its offer, Ahold said it had upped the amount of 2008 notes it would buy back to €436.8m from €300m. Holders tendered just over €1bn of that series of notes.


BNP Paribas and JP Morgan are acting as lead dealer managers for the buyback.