Groupe Casino note-payment obligations on hold; ruling on grace period upcoming

By Wendy Van Sickle

Columbus, Ohio, Aug. 25 – Casino Guichard-Perrachon (Groupe Casino) said the president of the Paris Commercial Court has temporarily suspended all payment obligations regarding its senior notes due in 2026 and 2027, its euro medium-term notes due in 2026 and its financial instruments issued in 2005, according to a news release.

The court will rule in September on requests for grace periods relating to these notes, the company said.

The conciliators have asked for a standstill during conciliation proceedings of any payment of interest and other fees totaling about €130 million and installments of principal of around €70 million owed by the group during this period. This would run until Oct. 25 at the latest.

The issuer is a mass retailer with headquarters in Saint-Etienne, France.

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