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Groupe Casino successfully wraps consent solicitations for three series
Chicago, June 6 – Casino Guichard-Perrachon (Groupe Casino) received the requisite consents on three series of notes related to the commencement of conciliation proceedings, according to two press releases.
The company launched a consent solicitation regarding its senior notes due 2026 (ISIN: XS2276596538), its senior notes due 2027 (ISIN: XS2328426445) and Quatrim’s senior secured notes due 2024 (ISINs: XS2010039118, XS2010038490) in April.
For the two Casino notes, Casino worked with holders representing a majority of the notes and entered into a forbearance letter, wherein the holders agreed to waive the default due to the conciliation proceedings and rescinded any acceleration notices.
After working with the noteholders, Casino agreed to distribute a revised consent solicitation statement.
Casino announced on Tuesday that it received consents from the required majority under each of the notes to effect the waivers and make amendments to the indentures governing the notes for the duration of the conciliation proceedings.
For the Quatrim notes, the issuer also agreed to distribute a revised consent solicitation statement superseding the initial April 24 statement.
Holders representing a majority of the notes have waived the default and all the amendments to the indenture governing the notes have become effective and operative.
The issuer is a mass retailer with headquarters in Saint-Etienne, France.
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