Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Casino, Guichard-Perrachon > News item |
Casino begins public tender offer for notes due 2019, 2023, 2026
By Angela McDaniels
Tacoma, Wash., Sept. 20 – Casino, Guichard-Perrachon began a tender offer for its €1 billion of outstanding 3.157% notes due August 2019, €853.2 million of outstanding 3.311% notes due January 2023 and €602 million of outstanding 2.798% notes due August 2026, according to a company news release.
The tender offer is subject to a maximum acceptance amount, which has not yet been determined.
The purchase prices will be determined on Sept. 28 by reference to the 2019 interpolated mid-swap rate plus 90 basis points for the 3.157% notes, the 2023 interpolated mid-swap rate plus 260 bps for the 3.311% notes and the 2026 interpolated mid-swap rate plus 300 bps for the 2.798% notes.
The company will also pay accrued interest.
The tender offer will end on Sept. 27. The results will be released Sept. 28, and the settlement date is expected to be Sept. 30.
The company said the offer will allow it to further reduce its gross debt in France.
The structuring advisers and dealer managers are Merrill Lynch International (44 20 7996 5420 or DG.LM_EMEA@baml.com) and J.P. Morgan Securities plc (44 20 7134 2468 or emea_lm@jpmorgan.com).
Also acting as dealer managers are Commerzbank AG (49 69 136 59920 or Liability.Management@commerzbank.com), Credit Suisse Securities (Europe) Ltd. (liability.management@credit-suisse.com), ING Bank NV, Belgian Branch (31 20 563 2132 or liability.management@ing.com), Natixis (33 1 58 55 80 98 or liability.management-corporate@natixis.com) and Societe Generale (33 1 42 13 40 66 or liability.management@sgcib.com).
The information agent is BNP Paribas Securities Services (33 1 57 43 10 77 or paris.bps2s.information.agent@bnpparibas.com). BNP Paribas is also acting as tender agent (33 1 55 77 61 60 or paris.bp2s.offers@bnpparibas.com).
Casino is a food retailer based in Saint-Etienne, France.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.