Sugar group Tereos to repay half of its 2020 bond a year in advance

PARIS: French sugar group Tereos, the fortunes of which have been hit by a steep fall in sugar prices, said it would repay half of its March 2020, bond a year in advance for 250 million euros ($283 million).

In December, Tereos plunged to a first-half loss of almost 100 million euros and said it expected to be in the red across its full financial year for the second year running.

"This repayment is fully financed by BNP Paribas, Natixis and Rabobank, demonstrating the confidence of the group's major relationship banks," Tereos added in a statement on Monday.