Casino, Guichard-Perrachon accepts €100 million of tendered Quatrim notes due 2024

By Marisa Wong

Los Angeles, March 31 – Casino, Guichard-Perrachon SA announced the success of its March 24 cash tender offer for up to €100 million of the €634.41 million outstanding 5 7/8% senior secured notes due Jan. 15, 2024 (ISIN: XS2010039118) issued by Quatrim SAS, according to a Friday press release.

As of the expiration of the offer at 11 a.m. ET on March 30, holders had tendered €400,577,000 of the notes, according to a separate announcement.

The company decided to set the final acceptance amount at €100 million. Tendered notes will be accepted with a proration factor of 22.9419%.

The notes will be purchased at €940 per €1,000 principal amount, plus accrued interest. The total amount of accrued interest is €2,252,083.05.

Settlement will take place on April 3.

After cancellation of the tendered notes, €553 million principal amount will remain outstanding.

The €634.41 million outstanding principal amount at the start of the offer comprised notes held under Regulation S and did not include notes issued under the same indenture but held under Rule 144A (ISIN: XS2010038490). The company was only accepting tenders with respect to the Regulation S notes and did not accept tenders with respect to Rule 144A notes.

Credit Agricole CIB (+44 20 7214 5903; liability.management@ca-cib.com) and J.P. Morgan SE (+44 20 7134 4353; Liability_management_EMEA@jpmorgan.com) are acting as global coordinators and dealer managers, and Credit Industriel et Commercial SA (+33 1 40 16 26 45; liabilitymanagement@cic.fr), Credit Suisse Bank (Europe) SA (+44 20 7883 8763; liability.management@credit-suisse.com), La Banque Postale (+33 1 46 62 86 56; paul.santucci@labanquepostale.fr) and Societe Generale (+33 1 42 13 32 40; liability.management@sgcib.com) are acting as dealer managers for the tender offer.

Kroll Issuer Services Ltd. (attn.: Harry Ringrose; +44 20 7704 0880; quatrim@is.kroll.com; https://deals.is.kroll.com/quatrim) is the tender agent.

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

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