Switzerland-based travel retailer Dufry AG said Oct. 9 that it plans to issue senior notes worth €500 million with a maturity of seven years.

Dufry expects the notes to be listed on the International Stock Exchange.

Proceeds from the offering, along with company's cash on hand, will be used to redeem the existing €500 million principal amount of outstanding senior notes due 2022.

The retailer said the notes will be offered and sold only to non-U.S. persons outside the U.S.