Casino Group plans buyback of bonds due 2020, 2021 and 2022

By Sarah Lizee

Olympia, Wash., Oct. 30 – Casino Group is planning to buy back its bonds due March 2020, May 2021 and June 2022 as part of a refinancing transaction that will be carried out in the coming weeks, according to a press release.

The group said it plans to launch the buybacks for a targeted amount of €700 million.

The refinancing transaction includes a new €750 million term loan B due January 2024 (B1/B+) and a €750 million secured bond due January 2024, according to a lender presentation. The company is also getting a €2 billion revolver.

Proceeds from the transaction will also be used to repay debt under the company’s existing revolver and credit lines.

Casino is a food retailer based in Saint-Etienne, France.

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