Casino upsizes offering of 4.25-year secured notes to €800 million, tightens talk to 6%

By Paul A. Harris

Portland, Ore., Nov. 7 – Quatrim, a wholly owned subsidiary of French supermarket operator Casino, Guichard-Perrachon, upsized its offering of 4.25-year secured notes to €800 million from €750 million, according to market sources.

Tightened talk has the deal coming at 6%, revised from earlier talk in the 6¼% area. Initial guidance was in the mid 6% area.

J.P. Morgan Securities plc, BNP Paribas, Credit Agricole CIB, Credit Suisse, HSBC and Natixis are managing the Rule 144A and Regulation S offering.

The notes come with two years of call protection.

Proceeds will be used to pay off bonds maturing in March 2020, May 2021 and June 2022.

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