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Casino Guichard taps term loan B for additional €425 million
Chicago, Nov. 24 – Casino Guichard-Perrachon SA announced that it has tapped its term loan B for an additional €425 million, according to a press release.
The additional borrowings were upsized from an amount that started at €400 million.
The terms and conditions are the same as the original €1 billion loan with an August 2025 maturity.
Interest is Euribor plus 400 basis points, with a 0% floor.
The add-on came with an original issue discount of 99.25.
Proceeds will be partially used to fund a recently concluded tender offer. The company will use the remaining proceeds for future debt buybacks and repayments.
The tender offer and the loan are both expected to settle in the coming days.
Casino Guichard-Perrachon is a Saint-Etienne, France-based food and non-food retailer.
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