Dufry plans to issue EUR 500 million Senior Notes with a maturity of eight years. Proceeds from the offering are intended to be used to partly finance the acquisition of The Nuance Group.
Dufry Group, the leading global travel retailer, plans to issue EUR 500 million denominated Senior Notes, the proceeds of which will be used as part of the financing of the acquisition of The Nuance Group.
The Notes will be pari passu with the existing revolving credit facility and term loans as well as the existing USD notes. It is expected that the Notes will be admitted to the official list and to trade on the Global Exchange Market of the Irish Stock Exchange.
The Notes will be offered and sold only to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”) and to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act. Exact terms and conditions are expected to be finalized in the coming days.