BRUSSELS, Belgium, March 22, 2012 – Delhaize Group (Euronext Brussels: DELB - NYSE: DEG), the Belgian international food retailer, announced today that it commenced a tender offer to qualifying holders for cash prior to maturity of up to EUR 300 million aggregate principal amount of its outstanding 5.625% Senior Notes due 2014, plus accrued and unpaid interest and premium amounts.
The purpose of the offer is to manage the debt maturity profile of Delhaize Group. The offer is being made only outside the United States, and no tenders from the United States will be accepted. Any notes purchased by the Group pursuant to the offer will be cancelled and will not be reissued or resold.
In combination with the offer, Delhaize Group currently intends to issue new fixed rate notes, denominated in a currency to be determined (the “New Notes”), subject to market conditions. The offer is not contingent on the successful completion of the issue of the New Notes. The Company may, in its sole discretion, extend, re-open, amend and/or terminate the offer at any time (subject to applicable law and as provided in the Company’s tender offer memorandum for the offer (the “Tender Offer Memorandum”)).
Delhaize Group is a Belgian international food retailer present in eleven countries on three continents. At the end of 2011, Delhaize Group’s sales network consisted of 3 408 stores. In 2011, Delhaize Group posted EUR 21.1 billion (USD 29.4 billion) in revenues and EUR 475 million (USD 661 million) in net profit (Group share). At the end of 2011, Delhaize Group employed approximately 160 000 people. Delhaize Group’s stock is listed on NYSE Euronext Brussels (DELB) and the New York Stock Exchange (DEG).