Ahold Delhaize: Ahold Delhaize announces the buy-back and cancellation of its ¥33 billion Floating Rate Notes due May 2031 and the unwind of corresponding currency swap
(Thomson Reuters ONE) -
Zaandam, the Netherlands, November 15, 2016 - Ahold Delhaize announces the buy-
back and cancellation of the entire principal amount of its ¥33 billion Floating
Rate Notes due May 2031 (ISIN: XS0128778460) (the "JPY Notes"). The associated
Yen-Euro currency swap will be unwound as part of the transaction. Together, the
JPY Notes and the swap effectively represent a synthetic ?299 million long-term
liability at an annual interest rate of 7.065%.
Ahold Delhaize has agreed to buy back the JPY Notes at a purchase price of
108.1% for settlement on November 15, 2016. Cancellation of the JPY Notes shall
take place on the same day. The cost of buying back the JPY Notes and unwinding
the swap will be funded with cash on hand and shall be reflected in Ahold
Delhaize's Q4 2016 results as a corresponding one-off cost of ?243 million
before tax.
The transaction is value accretive, achieves a reduction in annual interest
expense of approximately ?21 million and will have no material impact on current
leverage ratios, Ahold Delhaize's ability to fund its growth opportunities or to
further optimize its capital structure.
Press release_JPY Notes_161115:
http://hugin.info/130711/R/2056855/770486.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ahold Delhaize via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.11.2016 - 07:59 Uhr
Sprache: Deutsch
News-ID 506993
Anzahl Zeichen: 1743
contact information:
Town:
Amsterdam
Kategorie:
Business News
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"Ahold Delhaize: Ahold Delhaize announces the buy-back and cancellation of its ¥33 billion Floating Rate Notes due May 2031 and the unwind of corresponding currency swap"
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