Casino: agreement on financial restructuring
(CercleFinance.com) - The French food retailer today announced that it has reached a lock-up agreement for its financial restructuring.
The agreement was reached with both EP Equity Investment III, an entity controlled by Mr. Daniel Křetínský, Fimalac and Attestor and, on the other hand, by creditors economically holding 75% of Term Loan B1, major commercial banking groups and some of the aforementioned creditors economically holding 92% of RCF2 as well as bondholders issued by Quatrim representing 58% of these bonds.
Management said that Casino has reached a major milestone in its financial restructuring process, by obtaining approval from its main creditors on a financial restructuring plan which creates a framework favourable to the sustainability of its businesses, the maintenance of jobs and head offices, and the continued development of all its banners.
Listing of Casino shares and other listed securities issued by the company, was suspended on 4 October, although it resumed today when the market opened.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The agreement was reached with both EP Equity Investment III, an entity controlled by Mr. Daniel Křetínský, Fimalac and Attestor and, on the other hand, by creditors economically holding 75% of Term Loan B1, major commercial banking groups and some of the aforementioned creditors economically holding 92% of RCF2 as well as bondholders issued by Quatrim representing 58% of these bonds.
Management said that Casino has reached a major milestone in its financial restructuring process, by obtaining approval from its main creditors on a financial restructuring plan which creates a framework favourable to the sustainability of its businesses, the maintenance of jobs and head offices, and the continued development of all its banners.
Listing of Casino shares and other listed securities issued by the company, was suspended on 4 October, although it resumed today when the market opened.
Copyright (c) 2023 CercleFinance.com. All rights reserved.