Casino accepts tenders for €221.9 million bonds from four series

By Taylor Fox

New York, Nov. 17 – Casino Guichard-Perrachon SA announced the results for its offer to repurchase four series of outstanding bonds, according to a news release.

As of the 11 a.m. ET Nov. 16 expiration, holders had tendered €194.1 million of bonds due 2021, €8.5 million of bonds due 2022, €11.5 million of bonds due 2023 and €7.8 million of bonds due 2024. The company has accepted for purchase all €221.9 million of the tendered bonds.

As previously reported, the company offered to purchase any and all of the outstanding €529 million 4.726% notes due May 2021 (ISIN: FR0011052661). The original issue size on this series was €850 million, and the interest has stepped up to a current rate of 5.976%. The notes will be repurchased at 102.65.

Additionally, there were three capped offers, set at an aggregate maximum tender amount of €150 million, subject to proration, for the following three series:

• The €367 million outstanding of the original €750 million 1.865% notes due June 2022 (ISIN: FR0013260379), to be repurchased at 97.915;

• The €557.8 million outstanding of the original €1 billion 3.311% notes due January 2023 (ISIN: FR0011400571), to be repurchased at 97.365; and

• The €900 million outstanding of the 3.248% notes due March 2024 (ISIN: FR0011765825), to be repurchased at 87.125.

Interest will also be paid on the notes plus the tender consideration.

Settlement is expected for Nov. 20.

Structuring agents and dealer managers for the tender offers are BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com), Credit Agricole CIB (liability.management@ca-cib.com, +44 20 7214 5733) and Societe Generale (+33 1 42 13 32 40, liability.management@sgcib.com).

Dealer managers of the tender offer are Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com), Credit Industriel et Commercial SA (+33 1 40 16 26 45, liabilitymanagement@cic.fr), Credit Suisse Securities (Europe) Ltd. (+44 20 7883 8763, liability.management@credit-suisse.com), HSBC Bank plc (+44 20 7992 6237, LM_EMEA@hsbc.com), La Banque Postale (+33 1 46 62 85 56, paul.santucci@labanquepostale.fr) and Natixis (+33 1 58 55 08 14, +33 1 58 55 05 56, liability.management-corporate@natixis.com).

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

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

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