Delhaize Group Announces the Closing of the Exchange Offer of its USD 827 million 5.70% Senior Notes Due 2040
(Thomson Reuters ONE) -
BRUSSELS, Belgium - March 25, 2011 - Delhaize Group (Euronext Brussels: DELB -
NYSE: DEG), the Belgian international food retailer, announced today that it has
completed its exchange offer pursuant to which USD 826 888 000 aggregate
principal amount of its USD 827 163 000 5.70% Senior Notes due 2040 issued on
October 8, 2010 (the "Original Notes") were tendered for exchange into an equal
aggregate principal amount of its 5.70% Senior Notes due 2040 that have been
registered under the U.S. Securities Act of 1933, as amended (the "Exchange
Notes").
The exchange offer expired at 5:00 p.m., New York City time, on March 21, 2011.
Based on the information provided by The Bank of New York Mellon, the exchange
agent for the exchange offer, as of the expiration of the exchange offer, USD
826 888 000 of the outstanding aggregate principal amount of the Original Notes
were tendered for Exchange Notes, out of a total of USD 827 163 000 aggregate
principal amount eligible to participate in the exchange offer. All Original
Notes tendered were accepted for exchange and the exchange offer was consummated
on March 24, 2011. The Original Notes are substantially identical to the
Exchange Notes for which they have been exchanged, except that the Exchange
Notes are registered under the U.S. Securities Act of 1933, as amended, and the
transfer restrictions terms and registration rights terms applicable to the
Original Notes do not apply to the Exchange Notes. The Original Notes tendered
for Exchange Notes will be cancelled.
The Exchange Notes contain a change of control provision allowing their holders
to require Delhaize Group to repurchase their Exchange Notes in cash for an
amount equal to 101% of the aggregate principal amount of Exchange Notes
repurchased plus accrued and unpaid interest thereon, upon the occurrence of
both (i) a transfer of all or substantially all of the assets of Delhaize Group
and its subsidiaries, the consummation of a transaction the result of which a
person of group of persons holds more than 50% of the voting rights of Delhaize
Group, or the appointment of a majority of the members of the board of directors
other than with the approval of the majority of the existing board members, and
(ii) the Exchange Notes are rated at or below Ba1 by Moody's and at or below BB+
by S&P within a certain period following the announcement of an event that could
result in a change of control described in (i) above. Other than the Exchange
Notes issued in the exchange offer and the Original Notes which have not been
tendered in the exchange offer, there are no outstanding bonds or notes of
Delhaize Group containing a change of control provision approved by its general
meeting of shareholders held on May 27, 2010.
This notice shall not constitute an offer to sell or the solicitation of an
offer to buy any securities.
» Delhaize Group
Delhaize Group is a Belgian international food retailer present in six countries
on three continents. At the end of 2010, Delhaize Group's sales network
consisted of 2 800 stores. In 2010, Delhaize Group posted EUR 20.8 billion (USD
27.6 billion) in revenues and EUR 574 million (USD 762 million) in net profit
(Group share). At the end of 2010, Delhaize Group employed approximately
138 600 people. Delhaize Group's stock is listed on NYSE Euronext Brussels
(DELB) and the New York Stock Exchange (DEG).
This press release is available in English, French and Dutch. You can also find
it on the website www.delhaizegroup.com. Questions can be sent to
investor(at)delhaizegroup.com.
» Contacts
Geert Verellen: + 32 2 412 83 62
Saskia Dheedene: + 32 2 412 96 11
Steven Vandenbroeke (media): + 32 2 412 86 69
Press release in pdf format:
http://hugin.info/133961/R/1499890/435339.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Delhaize Group via Thomson Reuters ONE
[HUG#1499890]
Unternehmensinformation / Kurzprofil:
Datum: 25.03.2011 - 08:01 Uhr
Sprache: Deutsch
News-ID 52789
Anzahl Zeichen: 4922
contact information:
Town:
Brussels
Kategorie:
Business News
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