Dixons begins bond buyback

Kasmira Jefford
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DIXONS Retail yesterday launched a tender offer to buy back half of the £160m bonds it is due to repay in November, giving investors a further sign of confidence over its financial position.

The electronics retailer, which earlier this week reported robust quarterly results, is offering to buy back £80m of its outstanding 6.125 per cent guaranteed bonds due on 15 November and £50m of its outstanding £150m 8.75 per cent guaranteed notes due 2015.

It also announced plans to issue new notes with a 2017 maturity.