The gross debt would be slashed by French food and bottled water company Danone via the release of a public tender cash offer for some of its bonds up to a maximum principal aggregate amount of EUR1.25 billion, said the company Monday.  

At the end of the first half of 2009, Danone had EUR4.11 billion of net debt and its offer to purchase bonds is applicable to any and all of its EUR1.25 billion 5.25% notes due May 6 2011.

Furthermore, the tender also applies to an amount of its EUR1 billion 6.375% notes due Feb. 4 2014 and, or, an amount of its EUR1 billion 5.5% notes due May 6 2015.

The company has announced16th November as the start date for the tender offer. The offer will end 24th November.