Casino Guichard launches €200 million term loan at 97.5-98 OID

By Sara Rosenberg

New York, Dec. 9 – Casino Guichard-Perrachon held a lender call on Wednesday to launch a €200 million term loan (B2/B+) due January 2024 that is talked at Euribor plus 550 basis points with a 0% floor and an original issue discount of 97.5 to 98, according to a market source.

The term loan has 101 call protection until November 2021 and a change-of-control option to be repaid at par, the source said.

BNP Paribas, HSBC and Credit Suisse are the global coordinators and physical bookrunners on the deal. Credit Agricole is a global coordinator. Natixis, Santander and Societe Generale are joint bookrunners. Credit Suisse is the administrative agent.

Commitments are due at 7 a.m. ET on Dec. 16, the source added.

Proceeds will be used with €300 million of other unsecured debt, €87 million of cash from a segregated account and €648 million from the disposal of Leader Price to refinance unsecured notes maturing in 2021, 2022, 2023, 2024 and 2025 for a maximum amount of €1.2 billion.

Casino Guichard-Perrachon is a France-based food and non-food retailer.

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