Coca-Cola Hellenic Bottling Company SA is making moves to cut its debt financing costs. The company has announced that it will redeem around €555 m in 5.25% bonds early. The bonds were due to mature in 2006, and the company will issue new notes.

The issue originally totalled €625 m.

In a statement, the company said: "The purpose of the transactions is to reduce the quantity of debt maturing in 2006, extend the maturity profile of Coca-Cola HBC and its subsidiaries and raise cost-effective longer-term funding."