Fabrib
Forumer storico
Casino Group announces plan to strengthen its liquidity and financial structure
Paris, 22 October 2019,
In order to strengthen its liquidity and capital structure, the Group is negotiating the extension of all of its credit lines in France and announces its intention to raise new financings for a targeted amount of €1.5bn in order to refinance part of its existing debt.
The Group is working with the banks participating in its confirmed credit lines (whether syndicated or bilateral) to agree a new syndicated revolving facility, maturing in October 2023, for approximately €2.0bn. The Group has already received commitments from 14 French and international banks for more than €1.6bn, subject to final documentation and customary conditions.
In parallel, the Group intends to raise new financings for a target amount of €1.5bn, through a term loan facility (Term Loan B) and an additional senior secured debt instrument, both maturing in January 2024. The proceeds will be used to partially refinance the Group's existing debt. Specifically, Casino intends to launch a tender offer on its bonds which mature in 2020, 2021 and 2022.
Paris, 22 October 2019,
In order to strengthen its liquidity and capital structure, the Group is negotiating the extension of all of its credit lines in France and announces its intention to raise new financings for a targeted amount of €1.5bn in order to refinance part of its existing debt.
The Group is working with the banks participating in its confirmed credit lines (whether syndicated or bilateral) to agree a new syndicated revolving facility, maturing in October 2023, for approximately €2.0bn. The Group has already received commitments from 14 French and international banks for more than €1.6bn, subject to final documentation and customary conditions.
In parallel, the Group intends to raise new financings for a target amount of €1.5bn, through a term loan facility (Term Loan B) and an additional senior secured debt instrument, both maturing in January 2024. The proceeds will be used to partially refinance the Group's existing debt. Specifically, Casino intends to launch a tender offer on its bonds which mature in 2020, 2021 and 2022.
