CO Casino Guichard Perrachon

Casino Group: Successful bond tender offer for a total amount of more than €750m

Successful bond tender offer for a total amount of more than €750m

Paris, 13 November 2019,

Casino announces the results of the bond tender offer launched on 5 November, in the context of its refinancing plan; a total amount of c.€784m has been tendered, respectively €239m, €253m and €292m of the bonds maturing in March 2020, May 2021 and June 2022.

The settlement of the tender offer is expected on 20 November. The nominal amounts of the impacted bonds will then be reduced to respectively around €257m, €597m and €452m for the bonds maturing in March 2020, May 2021 and June 2022. Taking into account the tender prices and the accrued coupons, the total cash-out will be €806m for Casino.

This tender offer is financed by the €1,000m Term Loan and the €800m secured high yield bond announced on 7 November.

Following the reimbursement of the drawn credit lines and part of the Segisor loan, c. €200M will be deposited on a segregated account, where funds can only be used to reimburse Casino debt.

After these transactions, the average debt1 maturity will increase from 3.3 to 3.8 years.

  

                                     

This press release constitutes a public disclosure of inside information by the Group under Regulation (EU) 596/2014 (16 April 2014) and Implementing Regulation (EU) No 2016/1055 (10 June 2016).

Forward-Looking Statements

This press release may include forward looking statements. These forward looking statements can be identified by the use of forward looking terminology, including the terms as “believe”, “expect”, “anticipate”, “may”, “assume”, “plan”, “intend”, “will”, “should”, “estimate”, “risk” and or, in each case, their negative, or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding the Group’s or any of its affiliates’ intentions, beliefs or current expectations concerning, among other things, the Group’s or any of its affiliates’ results of operations, financial condition, liquidity, prospects, growth, strategies and the industries in which they operate. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward looking statements are not guarantees of future performance and that the Group’s or any of its affiliates’ actual results of operations, financial condition and liquidity, and the development of the industries in which they operate may differ materially from those made in or suggested by the forward looking statements contained in this press release. In addition, even if the Group’s or any of its affiliates’ results of operations, financial condition and liquidity, and the development of the industries in which they operate are consistent with the forward looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

The forward-looking statements and information contained in this announcement are made as of the date hereof and the Group undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

ANALYST AND INVESTOR CONTACTSRégine GAGGIOLI – +33 (0)1 53 65 64 17 rgaggioli@groupe-casino.fror

+33 (0)1 53 65 24 17 IR_Casino@groupe-casino.fr

 PRESS CONTACTSCasino Group – Direction of CommunicationStéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05

or

+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr

Agence IMAGE 7Karine ALLOUIS  -  +33(0)1 53 70 74 84 - kallouis@image7.frGrégoire LUCAS - gregoire.lucas@image7.fr

 

 

1 Bond debt and term loan

Attachment

• 2019-11-13 - Successful bond tender offer for a total amount of more than €750m