Delhaize Completes Debt Refinancing

BRUSSELS — Delhaize Group here said Thursday that its Delhaize America subsidiary had completed the repurchase of $1.1 billion in notes with funds generated from new note placements also completed this week. “This tender offer and related refinancing have improved substantially our financial flexibility and debt profile,” Pierre-Olivier Beckers, president and chief executive officer of Delhaize, said in a statement. The tender offer comprised senior notes due in 2011 and other debts due in 2031. The buyback was financed by proceeds from the sale of a series of Euro-denominated senior notes due 2014 and a series of U.S. dollar-denominated senior notes due 2017.

Read More of Today's Headlines