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Sayfa başlığıMETRO Group successfully completes bond buy-back

01.10.2004

METRO Group successfully completes bond buy-back

METRO Group has successfully completed the early refinancing of a part of its € 750 million Floating Rate Notes due 29 May 2006.

"We are very satisfied with the response to the offered transactions" said Mr. Unger, Chief Financial Officer of METRO AG. "With a volume of € 436 million the buy-back is an entire success for us".

The buy-back will be financed through the new issue of a 5-year Floating Rate Note in the overall amount of € 500 million. Maturing on 07 October 2009 the notes offer a spread of 44 basis points over 3-Months Euribor.

The issue was supported by good demand from both existing investors, who participated in the buy-back, and new investors. The well-diversified order book consisted of numerous investment managers, banks and retail investors.

Joint bookrunners are Dresdner Kleinwort Wasserstein, HSBC and Société Générale CIB. The new notes are issued under the existing Debt Issuance Programme and will be listed in Frankfurt. METRO Group is rated Baa1, negative outlook by Moody’s and BBB, stable outlook by S&P.

METRO Group is one of the world’s largest and most international retailers with sales amounting to EUR 53.6 billion in 2003. The company operates six divisions in the areas of food and non-food wholesale and retail distribution with 2,386 stores in 28 countries across Europe and Asia.

 

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