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FRANCE: Danone launches bond issue

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Groupe Danone has issued a Euro bond.

The company said on Tuesday (22 April) that the transaction has enabled it to "refinance amounts due under the outstanding bridge loan facility set up in July 2007 to finance the acquisition of Numico".

The issue consists of a three-year tranche of EUR750m (US$1.18bn) (coupon of 5.25%) and a seven-year tranche of EUR1bn (coupon of 5.50%), the company said. The bonds will be listed on the Luxembourg Stock Exchange and were "widely subscribed across a diversified investor base".

Groupe Danone CFO Pierre-André Terisse said: "We are very pleased with this bond issue. With three and seven year maturities, this transaction strengthens the financing of the Numico acquisition, at conditions in line with our expectations. The very strong investor response clearly reflects the high confidence capital markets place in Danone."


Sectors: Soft drinks, Water

Companies: Groupe Danone

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