Danone to Buy Back up to 500 Million Euros of its Bonds

The agri-food group Danone announced on Tuesday the partial refinancing of its hybrid bond, with the launch of a partial cash buyback offer for these open-ended securities issued on October 30, 2017 for a total amount of 1.25 billion d ‘euros. The maximum amount of the tender offer, which will end on September 14 at 4:00 p.m., is 500 million euros. Danone has also announced its intention to issue new securities of indefinite duration denominated in euros, bearing interest at an adjustable fixed rate and a first repayment option in 5.25 years, subject to market conditions. The terms of these new bonds to be admitted to listing on Euronext Paris will be determined later on Tuesday.