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Prospect News home > News index > List of issuers T > Headlines for Tenders 2007 > News item |
Barry Callebaut calls 9¼% bonds
By Angela McDaniels
Seattle, Jan. 18 - Barry Callebaut said it will redeem its €165 million outstanding 9¼% senior subordinated notes due 2010 at 104.625% of par on March 15, the first call date.
The company will draw on its €850 million revolving credit facility to fund the redemption costs, which Barry Callebaut estimated at CHF 8 million.
The redemption will improve net financial costs by about CHF 14 million beginning in fiscal year 2007/2008, according to a company news release.
Barry Callebaut is a manufacturer of cocoa and chocolate products and is based in Zurich, Switzerland.
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