Dufry prices €500m Senior Notes

By Charlotte Turner |

Dufry Group, the leading global travel retailer, placed EUR-denominated senior notes in an aggregate principal amount of EUR 500 million. The notes have a term of eight years. The annual interest rate will be 4.5 percent and interest will be payable semi-annually in arrears.

The net proceeds will be used as part of the financing of the acquisition of The Nuance Group. The Notes will be ‘pari passu’ with the existing revolving credit facility and term loans as well as the existing USD notes.

 

 

As previously reported, Dufry is expecting around CHF.810m ($906.4m) in gross proceeds from its recent share offer placing at CHF.162.00 ($181.30) per share.

 

The offer price for the rights offering and the international offering were determined and approved at the extraordinary general meeting on June 26, 2014.

 

Some 3,623,976 new shares were subscribed for by existing shareholders, while 1,376,024 new shares were purchased by investors in the international offering.

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