January 7, 2020 / 4:59 PM / 13 days ago

Sugar group Tereos to repay second half of 2020 bond in advance

PARIS, Jan 7 (Reuters) - French sugar group Tereos will repay the second half of its 500 million euro ($556.8 million) March 2020 bond on Jan. 21.

The French group had repaid the first half a year in advance through a loan financed by BNP Paribas, Natixis and Rabobank.

“The amount reimbursed will be 250 million euros, plus accrued interest. This redemption will be made by exercising the residual maturity call option,” it said in a statement.

Tereos said in November that it expected to report improved results in the second half of 2019/20, driven by higher prices for both sugar and ethanol. ($1 = 0.8981 euros) (Reporting by Sybille de La Hamaide Editing by David Goodman)

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