Casino: successful refinancing operation
(CercleFinance.com) - Casino has announced that it has successfully completed its refinancing operation launched on 22 March for a total of 1.
525 billion euros, thereby exceeding the 1.225 billion euros initially targeted, thanks to strong interest from investors.
This amount includes a new term loan facility of 1 billion euros, maturing in August 2025 and an interest rate of Euribor+4.0%, with the same securities as the existing loan, and a new senior unsecured bond of 525 million euros, with maturity in April 2027 and a coupon of 5.25%.
The funds raised will enable the group to repay the existing term loan B facilty of 1.225 billion euros maturing in January 2024, at an interest rate of Euribor+5.5%. The 300 million euros excess cash will be used for future refinancing of debt.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
525 billion euros, thereby exceeding the 1.225 billion euros initially targeted, thanks to strong interest from investors.
This amount includes a new term loan facility of 1 billion euros, maturing in August 2025 and an interest rate of Euribor+4.0%, with the same securities as the existing loan, and a new senior unsecured bond of 525 million euros, with maturity in April 2027 and a coupon of 5.25%.
The funds raised will enable the group to repay the existing term loan B facilty of 1.225 billion euros maturing in January 2024, at an interest rate of Euribor+5.5%. The 300 million euros excess cash will be used for future refinancing of debt.
Copyright (c) 2021 CercleFinance.com. All rights reserved.