Casino Group: Casino announces the launch of a bond tender offer

Casino announces the launch of a bond tender offer

Paris, 5 November 2019,

In the context of its refinancing plan announced on 22^nd October, Casino launches today a tender offer on the bonds maturing in March 2020, May 2021 and June 2022.

This tender offer will be conditional to the new financings (Term Loan B and secured bond, respectively launched on October 23^th and 30^th). Based on a €1.5bn target for the new financings, the tender offer is expected to amount to €700m*.

As part of this offer, Casino will accept all the 2020 notes tendered and will allocate the remaining amount of the tender between the 2021 and 2022 bonds.

The settlement of the tender offer will take place shortly after the signing of the new revolving credit facility and simultaneously with the availability of the proceeds of the Term Loan B and the new secured bonds, and is expected to take place before the end of November.

The Group will continue to inform the market of the progress of its refinancing project.

                                     

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*as indicated in the Lender Presentation available under:
https://www.groupe-casino.fr/en/investors/financials-informations/

*          *          *

This press release constitutes a public disclosure of inside information by the Group under Regulation (EU) 596/2014 (16 April 2014) and Implementing Regulation (EU) No 2016/1055 (10 June 2016).

Forward-Looking Statements

This press release may include forward looking statements. These forward looking statements can be identified by the use of forward looking terminology, including the terms as “believe”, “expect”, “anticipate”, “may”, “assume”, “plan”, “intend”, “will”, “should”, “estimate”, “risk” and or, in each case, their negative, or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding the Group’s or any of its affiliates’ intentions, beliefs or current expectations concerning, among other things, the Group’s or any of its affiliates’ results of operations, financial condition, liquidity, prospects, growth, strategies and the industries in which they operate. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward looking statements are not guarantees of future performance and that the Group’s or any of its affiliates’ actual results of operations, financial condition and liquidity, and the development of the industries in which they operate may differ materially from those made in or suggested by the forward looking statements contained in this press release. In addition, even if the Group’s or any of its affiliates’ results of operations, financial condition and liquidity, and the development of the industries in which they operate are consistent with the forward looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

The forward-looking statements and information contained in this announcement are made as of the date hereof and the Group undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

ANALYST AND INVESTOR CONTACTS
Régine GAGGIOLI – [phone]
[e-mail]
or

[phone]
[e-mail]

 PRESS CONTACTS
Casino Group – Direction of Communication
Stéphanie ABADIE - [e-mail] - [phone]

or

[phone] - [e-mail]

Agence IMAGE 7
Karine ALLOUIS  -  [phone] - [e-mail]
Grégoire LUCAS - [e-mail]

 

 

Attachment

• 2019-11-05 - Casino announces the launch of a bond tender offer