Delhaize begins tender offer for €300 million of 5 5/8% notes due 2014

By Susanna Moon

Chicago, March 22 - Delhaize Group said it began a cash tender offer for up to €300 million principal amount of its outstanding 5 5/8% senior notes due 2014.

The company also will pay accrued interest and premium amounts, according to a press release.

The purpose of the offer is to manage the debt maturity profile, the release noted.

The offer is being made only outside the United States, and no tenders from the United States will be accepted.

Any notes purchased by the group under the offer will be canceled.

In connection with the offer, Delhaize plans to issue new fixed-rate notes, denominated in a currency to be determined, subject to market conditions. The offer is not contingent on the completion of the new issue.

Delhaize is a food retailer based in Brussels.

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