Casino Guichard tenders for three series of notes via BNP Paribas

New York, May 30 – Casino Guichard-Perrachon began a tender offer for its €507.75 million of 4.481% notes due November 2018 currently paying interest at 5.731%, its €850 million of 3.157% notes due August 2019 paying interest at 4.407% and its €600 million of 3.994% notes due March 2020 paying interest at 5.244%.

BNP Paribas is offering to buy the notes, according to a notice.

Casino Guichard is planning to sell new notes, and BNP Paribas will transfer any notes it buys in the tender to the company in exchange for new notes.

The tender will be subject to a cap that will be announced as soon as practical after the tender is priced.

For the 4.481% notes, the purchase price in the tender will be set using a yield of negative 0.10%. Pricing for the 3.157% notes will be based on interpolated mid-swaps plus a spread of 35 basis points, and for the 3.994% notes it will be based on interpolated mid-swaps plus 40 bps.

The tender ends at 10 a.m. ET on June 7, and pricing will be set on June 7.

Settlement is planned for June 9.

Completion of the tender is subject to the sale of the new notes.

Casino Guichard said it is carrying out the tender to take advantage of “currently favorable market conditions.”

The structuring advisers and dealer managers are BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com), Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) and Credit Agricole CIB (+44 20 7214 5733 or liability.management@ca-cib.com).

Also acting as dealer managers are Deutsche Bank AG, London Branch (+44 20 7545 8011), Merrill Lynch International (+44 20 7996 5420 or DG.LM_EMEA@baml.com), MUFG Securities EMEA plc (+ 44 20 7577 4048/4218 or DCM-LM@int.sc.mufg.jp), Royal Bank of Scotland plc (+44 20 7678 5282 or liabilitymanagement@natwestmarkets.com) and UBS Ltd. (+44 20 7568 2133 or ol-liabilitymanagement-eu@ubs.com).

The information agent is BNP Paribas Securities Services (+33 1 57 43 10 77 or paris.bp2s.information.agent@bnpparibas.com). The tender agent is BNP Paribas Securities Services (+33 1 55 77 61 60 or paris.bp2s.offers@bnpparibas.com).

Casino is a food retailer based in Saint-Etienne, France.

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