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Casino, Guichard-Perrachon SA
Legal Proceedings Report • Aug 25, 2023
1183_iss_2023-08-25_68e0e0be-90b4-43b0-a84c-f152ef9e7575.pdf
Legal Proceedings Report
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Update on the grace periods (délais de grâce) relating to the notes issued by the Casino group
Paris, 25 August 2023
As an update to its noteholders, the Casino group indicates that the President of the Paris Commercial Court (Président du tribunal de commerce de Paris) will rule in September on requests for grace periods (délais de grâce) relating to (i) the senior unsecured notes issued by Casino, due 2026 and 2027, (ii) the EMTN notes due 20261, and (iii) the TSSDIs issued in 2005.
periods relating to (i) unsecured high yield bonds issued by Casino, maturing in 2026 and 2027, (ii) EMTN bonds maturing in 2026, and (iii) TSSDIs issued in 200 For the time being, the President of the Paris Commercial Court has temporarily suspended all payment obligations in respect of these notes.
tates that the President of the Paris Commercial Court will rule in 5.September on requests for grace
It is recalled that:
the conciliators (conciliateurs) have asked for the benefit of the Group, for the duration of the conciliation proceedings (i.e. until the 25th of October at the latest), for a standstill for any payment of interest and other fees (i.e. circa €130 million), and instalments of principal (i.e. circa €70 million) owed over this period by the Group companies parties to the conciliation proceedings.
With regard to creditors who refused to grant the required consents, the Group indicated that it would request from the President of the Commercial Court the application of the délais de grâce pursuant to article L. 611-7 of the French Commercial Code.
This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
1 Holders of the EMTN notes due 2024 and 2025 have consented to the waiver requested by the conciliators.
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ANALYSTS AND INVESTORS CONTACTS
Christopher WELTON – Tél : +33 (0)1 53 65 64 17 [email protected]
or
+33 (0)1 53 65 24 17 IR\[email protected]
PRESS CONTACTS
Groupe Casino – Communications Director
Nicolas BOUDOT - [email protected] - + 33 (0)6 79 61 40 99
or
+33(0)1 53 65 24 78 - [email protected]
Agence IMAGE 7
Karine Allouis – Tel : +33(0)1 53 70 74 84 - [email protected] Laurent Poinsot – Tel : + 33(0)6 80 11 73 52 - [email protected] Franck Pasquier – Tel : + 33(0)6 73 62 57 99 - [email protected]