Casino: issues new bond exceeding E400m
(CercleFinance.com) - As part of the debt refinancing transaction announced on 22 March 2021, Casino Group has said that today it is launching a new senior unsecured bond maturing in April 2027 with a targeted amount of 425 million euros.
Casino's new bond issue will still include dividend restrictions. Thus, dividends will only be freely payable if the retail group's consolidated leverage ratio is below 3.5x post-payment of any dividend.
Together with the cash raised by the new Term Loan B Facility announced on 22 March this year, the new bond will be used to repay and cancel the group's existing term loan B facility maturing in 2024. These transactions are expected to be settled in the coming weeks.
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Casino's new bond issue will still include dividend restrictions. Thus, dividends will only be freely payable if the retail group's consolidated leverage ratio is below 3.5x post-payment of any dividend.
Together with the cash raised by the new Term Loan B Facility announced on 22 March this year, the new bond will be used to repay and cancel the group's existing term loan B facility maturing in 2024. These transactions are expected to be settled in the coming weeks.
Copyright (c) 2021 CercleFinance.com. All rights reserved.