Press release – Paris, 15 September 2021 Danone successfully completes its €500 million hybrid bonds refinancing Danone announces the success of the tender offer (the “Tender Offer”) on part of its €1.25 billion undated deeply subordinated fixed rate resettable notes, issued on 30 October 2017, bearing a 1.750% p.a. coupon and with a first call date on 23 March 2023 (ISIN: FR0013292828) (the “Existing Notes”). Danone accepted the tender of Existing Notes for a total amount of €500 million at a 1
French food group Danone has trimmed its restructuring plans, with total job cuts now seen at around 1,600 globally versus a 2,000 figure announced last year, French business daily Les Echos reported on Thursday. The world's largest yoghurt company, Danone had unveiled its reorganisation in November 2020 with the aim of becoming leaner and more agile, saving one billion euros ($1.18 billion) a year by 2023, in a post-COVID environment. But Danone has since ousted CEO Emmanuel Faber, who was replaced by Antoine de Saint-Affrique, and announced a nearly complete overhaul of its board, removing almost all its old-timers after clashes over the group's lacklustre profit margins and sales compared with some rivals.
Press release – Paris, 7 September 2021 Danone successfully prices a €500 million hybrid bond issue As part of its permanent focus on optimizing its capital and debt structure, Danone announces today that it has successfully priced its issue of €500 million undated deeply subordinated fixed rate resettable notes (the “New Notes”), taking advantage of favorable market conditions (the “New Issue”). Proceeds of the New Issue will be used for the general corporate purposes, including to refinance pa