Veolia buys back $203 million, €597 million bonds due 2015-2018

By Jennifer Chiou

New York, Dec. 13 - Veolia Environnement SA announced the overall repurchase of an aggregate amount of $203 million of dollar-denominated bonds due 2015 and 2018 in addition to €597 million of euro-denominated bonds maturing in 2016 and 2017.

The buybacks included the following:

• $50 million of 4.685% bonds sold in a private placement within the euro medium-term note program;

• $153 million of 6% dollar-denominated notes due 2018;

• €341 million of 4% eurobonds due 2016; and

• €256 million of 4.375% eurobonds due 2017.

According to a news release, the transactions are part of Veolia's effort to actively manage its debt and optimize its cost of financing.

The Paris-based environmental services provider said it has reduced its bonds due 2015-2018 by the equivalent of €750 million.

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