Casino announces the launch of a bond tender offer
Paris, 5 November 2019,
In the context of its refinancing plan announced on 22nd October, Casino launches today a tender offer on the bonds maturing in March 2020, May 2021 and June 2022.
This tender offer will be conditional to the new financings (Term Loan B and secured bond, respectively launched on October 23th and 30th). Based on a €1.5bn target for the new financings, the tender offer is expected to amount to €700m*.
As part of this offer, Casino will accept all the 2020 notes tendered and will allocate the remaining amount of the tender between the 2021 and 2022 bonds.
The settlement of the tender offer will take place shortly after the signing of the new revolving credit facility and simultaneously with the availability of the proceeds of the Term Loan B and the new secured bonds, and is expected to take place before the end of November.
The Group will continue to inform the market of the progress of its refinancing project.
*as indicated in the Lender Presentation available under:
* * *
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