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 partially finance the acquisition of World Duty Free.
The Notes will be pari passu with the existing revolving credit facility and term loans as well as the existing USD and EUR 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.
