Skip to main content

Groupe Casino – Refinancing plan: Casino Group has completed the transaction strengthening its liquidity and financial structure  

Written by Customer Service on . Posted in Public Companies.

Refinancing plan: Casino Group has completed the transaction strengthening its liquidity and financial structure  Paris, 21 November 2019,Yesterday, Casino Group completed its refinancing plan announced on 22 October that strengthens its liquidity and financial structure.The closing of the transactions allows the Group to fully concentrate on reaching its operating, financial and strategic objectives, as well as on executing its asset disposal plan.This plan included two transactions:raising €1.8bn of financing, of which a €1,000m1 Term Loan B (“TLB”) and a €800m secured high yield bond2, both maturing in January 2024,extending €2bn of confirmed credit lines in France (« RCF »), maturing in October 2023.The receipt of the TLB proceeds and the issue of the secured high yield bond yesterday, have enabled the Group to:finance the buyback offer on the bonds maturing in 2020, 2021 et 2022 for a total cash amount of €806m,repay the drawn credit lines to date for a total amount of €630m, andpay the fees and commissions related to the transaction.The €290m3 remaining amount has been placed on a segregated account, dedicated to debt repayment.This transaction has extended the debt maturity4 to 3.8 years, against 3.3 years before the transaction.The extension of the confirmed credit lines into the new €2bn RCF brings the amount of the Group’s undrawn confirmed credit lines in France to €2.3bn. The average maturity of these lines is now 3.6 years, against 1.6 years before the transaction.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 StatementsThis 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 CONTACTS
Régine GAGGIOLI – +33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
or+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr PRESS CONTACTS
Casino Group – Direction of Communication
Stéphanie ABADIE – sabadie@groupe-casino.fr – +33 (0)6 26 27 37 05or+33(0)1 53 65 24 78 – directiondelacommunication@groupe-casino.frAgence IMAGE 7
Karine ALLOUIS  –  +33(0)1 53 70 74 84 – kallouis@image7.fr
Flore LARGER – Tel : +33(0)6 33 13 41 50 – flarger@image7.fr1 Issued at 1% discount, i.e. €990M received by the Group
 2 Issued by Quatrim, a 100% indirectly-owned subsidiary of Casino, Guichard-Perrachon
 3 Bond and term loan
 4 Including c. €100M to repay the Segisor loan Attachment2019.11.21 – Groupe Casino – Completion of the refinancing plan

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.