Dufry plans to issue U.S. dollar denominated Senior Notes with a target deal size of approximately USD 500 million.  Proceeds from the offering are intended to be used for refinancing existing bank indebtedness maturing in 2013. The issuance will further improve the maturity profile of the Company’s financial indebtedness.

Dufry Group, the leading global travel retailer, plans to issue U.S. dollar denominated Senior Notes, the net proceeds of which it intends to use for early repayment of part of its outstanding syndicated loan which is scheduled to mature in August 2013.  Dufry plans to issue Notes with a principal amount of approximately USD 500 million, with an expected maturity of eight years. The Notes will initially be placed with qualified institutional investors in Switzerland and abroad.  Exact terms and conditions are expected to be finalized in the coming days.

Through accessing the international debt capital markets, Dufry will diversify its funding sources and extend the maturity profile of its indebtedness. As the majority of the company's cash flows are in U.S. dollars, the sale of U.S. dollar denominated Notes will help to match the currencies of the company’s income and liabilities.

Important Notices

This media release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The securities discussed  in this media release will not be and have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. Dufry has no intention to register any portion of the offering of these securities under the Securities Act.