Ahold Makes Debt Buyback Offer

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Ahold Makes Debt Buyback Offer

06/23/2009
Ahold yesterday made an offer to repurchase notes to reduce net interest expense and debt. The Amsterdam-based retail conglomerate’s subsidiary, Ahold Finance USA, is proposing to buy back any and all of the outstanding $690 million 8.25 percent guaranteed senior notes due in July 2010. The buyback will be paid for out of existing cash balances.

The offer price is $1,053.75 per $1,000 principal amount of notes tendered and accepted for purchase. The offer is scheduled to July 1, 2009, unless it is extended. The payment date for notes bought will be July 2, 2009 and, as well as the offer price, payment will include accrued and unpaid interest from the last interest payment date to, but not including, July 2, 2009.