U.S. Foodservice Enters Into Securitization Program
ZAANDAM, the Netherlands - Ahold said yesterday that its American subsidiary, U.S. Foodservice, has entered into a new $600 million receivable 364-day securitization program with three banks.
The new agreement, which was entered into Aug. 24, replaces the aggregate $490 million variable-investment certificates commitments under the existing securitization programs, with immediate effect.
Ahold c.f.o. Hannu Ryopponen said in a statement: "We are happy to have reached agreement on terms and conditions that are very much in line with market standards and that include improved pricing."
The new agreement, which was entered into Aug. 24, replaces the aggregate $490 million variable-investment certificates commitments under the existing securitization programs, with immediate effect.
Ahold c.f.o. Hannu Ryopponen said in a statement: "We are happy to have reached agreement on terms and conditions that are very much in line with market standards and that include improved pricing."