Linklaters advised (i) the underwriters on Casino, Guichard-Perrachon’s (the “Company”) issuance of €400 million senior unsecured high-yield notes maturing in January 2026 (the “Notes”), (ii) the co-ordinators and mandated lead arrangers on the Company’s €225 million incremental facility under its existing secured Term Loan B (the “Incremental TLB”) and (iii) the dealer managers on the Company’s simultaneous tender offer (the “Tender Offer”) for a portion of five separate series of its outstanding unsecured notes (the “Existing Notes”). The Tender Offer was funded, in part, with the proceeds from the issuance of Notes and the Incremental TLB.
Together with the proceeds of the new Notes and the Incremental TLB, total sources initially made available by the Company to consummate the transactions totalled over €1.35 billion. Following expiration of the Tender Offer, the Company has accepted for purchase over €800 million of its Existing Notes. The excess funds will be held in a segregated account, earmarked for future debt repurchases.
Casino is a leading major multi-format, multi-banner and multi-channel retailer with over 120 years of history, offering a diverse range of products and services to customers located primarily in France and in Latin America. Capital Markets partners Colin Chang and Luis Roth, counsel Cheri De Luca, Senior Associates Aurore Imbabazi, David Adler and Patrick McKeown and Associates Elise Alperte and Batoul Laanani advised on the Notes issuance.
Banking partner Kathryn Merryfield, counsel Lauren Hanley and associates Fanny Allouche and Oumhani Fassi-Fihri advised on the Incremental TLB.
Capital markets partner Veronique Delaittre, Managing Associate Antoine Galvier and associate Batoul Laanani advised on the Tender Offer.
Members of the Linklaters team are based in the Paris and London offices.
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