Delhaize Group (the “Company”), the Belgian international food retailer (Euronext Brussels: DELB, NYSE: DEG), announced today that it has determined that upon consummation of its debt tender offer (the “Tender Offer”) it will pay holders who validly tendered and did not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on November 29, 2012 (the “Expiration Date”), the total consideration of USD 1,059.45 for each USD 1,000 principal amount of its 5.875% Senior Notes due 2014 (the “Notes”) accepted for purchase.
Tender Offer Pricing
Holders who have validly tendered and have not validly withdrawn their Notes at or prior to the Expiration Date will be eligible to receive the Total Consideration (as defined below) plus accrued and unpaid interest up to, but not including, the Settlement Date.
The total consideration has been determined for the Notes by reference to the fixed spread over the reference yield based on the bid-side price of the reference U.S. treasury security, as calculated by the Dealer Managers on 11:00 a.m., New York City time, on November 29, 2012 (the “Total Consideration”). The Total Consideration was calculated in accordance with the Offer to Purchase (as defined below). The Total Consideration and the applicable reference yield are detailed in the table below:
NOTES CUSIP PRINCIPAL REFERENCE REFERENCE FIXED TOTAL AMOUNT RATE YIELD SPREAD CONSIDERATION OUTSTANDING 5.875% 24668PAC1 $300,000,000 0.25% U.S. 0.223% +50 bps $1,059.45 Senior Treasury Notes due Note due 2014 January 31, 2014
The Settlement Date is currently expected to be December 3, 2012.
The terms and conditions of the Tender Offer are described in the Offer to Purchase dated November 20, 2012 and the accompanying Letter of Transmittal.
BofA Merrill Lynch and J.P. Morgan are acting as Dealer Managers for the Tender Offer. D.F. King & Co., Inc. is act ing as the Information Agent. For detailed terms of the Tender Offer, please refer to the Offer to Purchase which (subject to distribution restrictions) can be obtained from the Dealer Managers and the Information Agent referred to below: