Casino plans tender for up to €1.2 billion of notes due 2021 to 2025

By Taylor Fox

New York, Dec. 9 – Casino Group is planning a tender offer on its notes maturing in 2021, 2022, 2023, 2024 and 2025 for a maximum amount of €1.2 billion, according to a news release.

The offers will be part of a transaction aimed at strengthening Casino’s liquidity until the end of 2023 by reducing bond debt and extending its average maturity.

Completion of the transaction, which also includes an add-on term loan B and a new senior debt instrument, is expected in the coming weeks.

The cash raised and potentially not used during the tender offer will be credited to the segregated account dedicated to repayment of debt for future transactions.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.