Casino Group launching bond, term loan B to refinance existing debt

By Sarah Lizee

Olympia, Wash., Oct. 30 – Casino Group is launching a secured bond due in January 2024 as part of its refinancing plan, which includes new financings for a targeted amount of €1.5 billion through the new bond and a new term loan B, as well as a new $2 billion syndicated revolving facility.

The bond will be issued by Quatrim, a 100%-controlled indirect subsidiary of Casino Guichard-Perrachon, according to a press release.

The amounts raised through the secured bond and term loan B will be used to refinance part of the group's existing debt. Casino plans to launch a bond buyback offer for its bonds maturing in March 2020, May 2021 and June 2022 for a targeted amount of €700 million.

The amounts raised will also be used to repay the current €675 million of drawdowns on the group's confirmed lines related to the seasonal nature of the business as well as a portion of the Segisor loan.

The completion of these refinancing transactions is expected to occur in the coming weeks, Casino said.

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

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