Leader Price Casino Vente

admin  4/12/2022
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French supermarket group Casino has launched a refinancing to clean out its upcoming debt maturities, hitting the final issuance slot given the long syndication timeline for raising a term loan' B'. It aims to issue a €200m TLB and a €300m unsecured bond, while launching a tender offer to buy back up to €1.2bn of outstanding debt.

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Casino Group will remain the owner of the brand Leader Price, used through private label products, currently sold across some of the group’s formats in France and internationally. The sale will take place after the consultation of various employee representative bodies and will need to be approved by the French Competition Authority. Casino Guichard-Perrachon SA is in talks with German competitor Aldi to sell its Leader Price chain of discount stores, the French retailer said late Thursday. Casino Group completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses. Paris, 30 th November 2020. Casino group has completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses, for an enterprise value of 717 million euros (including an earn-out of up to €35 million).

Casino said that after the transaction it will have largely covered maturities until 2024. If it is unable to buy back all the bonds it wants during the tender, it will place the new cash in a segregated account to repay maturities.

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