AMSTERDAM — Ahold here said it has completed the offer by its subsidiary, Ahold Finance USA, to repurchase its outstanding $609 million worth of 8.25% senior notes due in July 2010.
At the time of the closing last week, shareholders had tendered an aggregate principal amount of notes totaling approximately $186.7 million.
The company said it initiated the buyback to reduce net interest expense and debt. Buyback payments will be funded out of existing cash balances, the company pointed out.
The offer price was $1,053.75 per $1,000 principal amount of notes tendered and accepted for purchase, plus accrued and unpaid interest through July 1.
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