UPDATE 1-Danone in cash offer for bonds to cut debt cost - News

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.
Smartphone Guide
Here's a need-to-know guide to nine devices, based on features, price, network and platform.
Wines for the Holidays
Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES

How Well Do You Know Your Bird?
Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.
A Healthier & Wealthier You
Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

UPDATE 1-Danone in cash offer for bonds to cut debt cost

By: AFX | 16 Nov 2009 | 03:48 AM ET

Text Size

PARIS, Nov 16 (Reuters) - French dairy group Danone said on Monday it will launch a public offer to buy some of its bonds, in a move to simplify its debt structure and lower its cost. The tender offer starts on Nov. 16 and will end on Nov. 24. "The proposed transaction will enable Danone to reduce its gross debt, optimise its debt structure and lower its average cost of debt from 2010 onwards," the group said in a statement. Danone has mandated BNP Paribas and Societe Generale to manage the deal. Shares in Danone gained 0.54 percent in early trade on Monday, underperforming France's benchmark CAC 40 which was up 0.71 percent. For more on Danone, click on: (Reporting by Michel Rose; Editing by Hans Peters) l. Keywords: DANONE/ (paris.equities@news.reuters.com; Reuters Messaging: michel.rose.reuters.com@reuters.net; +33 1 49 49 51 85) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Tools: