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Rallye — Capital/Financing Update 2021
Feb 11, 2021
1619_iss_2021-02-11_bd9e610e-feeb-4015-9d6f-d78ede57ded4.pdf
Capital/Financing Update
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RALLYE
Revised results of the global tender offer launched by Rallye on its unsecured debt
Paris, February 11, 2021 – Further to the press release published by Rallye this morning in relation with the results of the global tender offer on its unsecured debt launched on 22 January 2021 (the "Tender Offer") (see Rallye's press release dated 22 January 2021), Rallye announces tonight the revised results of its Tender Offer.
Subject to the fulfillment of the conditions precedent set out below:
- − Rallye will acquire a total amount of unsecured debt of approximately € 195.4m for a total repurchase price of approximately € 39.1m reducing the total amount of its unsecured debt by approximately € 156.3m ; and
- − the total amount of unsecured debt purchased under the Tender Offer is allocated between the various instruments according to the breakdown set out in the Annex.
It is furthermore reminded that completion of the Tender Offer is, inter alia, subject to (i) the approval by the Paris Commercial Court of the amendment to the Rallye's safeguard plan in order to authorize the effective completion of the Tender Offer and the setting up of the financing of the Tender Offer (see Rallye's press release dated 22 January 2021) and (ii) the availability of the proceeds of the new financing.
In the coming days, Rallye will file a request with the Paris Commercial Court to amend its safeguard plan.
As an indication, it is anticipated that the settlement of the Tender Offer will occur at the beginning of April 2021.
Distribution of this document in some jurisdictions may be restricted by law. Those in possession of this document are required to obtain information themselves and to comply with all legal and regulatory restrictions.
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Press contact : Citigate Dewe Rogerson Aliénor MIENS + 33 6 64 32 81 75 [email protected] Annelot Huijgen +33 6 22 93 03 19 [email protected]
Annex
Breakdown of Rallye's unsecured debt acquired under the Tender Offer
| Debt instruments | Initial Pre-Tender Offer amount |
Amount acquired under the Tender Offer |
Post-Tender Offer amount |
|---|---|---|---|
| 2022 Notes (ISIN FR0012017903) |
€ 117,388,033 | € 29,347,007 | € 88,041,026 |
| 2020 EMTN Notes (ISIN CH0341440326) |
€ 72,619,684 | € 6,259,814 | € 66,359,870 |
| 2021 EMTN Notes (ISIN FR0011801596) |
€ 498,243,036 | € 27,882,735 | € 470,360,300 |
| 2023 EMTN Notes (ISIN FR0013257557) |
€ 380,555,201 | € 23,920,613 | € 356,634,588 |
| 2024 EMTN Notes (ISIN CH0398013778) |
€ 89,995,487 | €14,233,483 | €75,762,004 |
| Non-Dilutive Notes 2022 (ISIN FR0013215415) |
€ 218,293,768 | € 49,989,271 | € 168,304,497 |
| Exchangeable Notes (ISIN FR0011567908) |
€5,075,180 | € 1,842,956 | € 3,232,224 |
| Commercial Papers (ISIN FR0125661951, ISIN FR0125557555, ISIN FR0125613697, ISIN FR0125510067, ISIN FR0125512758, ISIN FR0125500134, ISIN FR0125629693) |
€ 58,793,576 | € 10,000,000 | € 48,793,576 |
| Claims secured by shares in subsidiaries other than Casino |
€ 133,166,690 | - | € 133,166,690 |
| Unsecured banking claims | € 223,551,297 | €31,288,250 | € 192,263,047 |
| Commercial claims | € 1,213,092 | € 596,401 | € 616,691 |
| TOTAL | € 1,798,895,044 | € 195,360,530 | € 1,603,534,513 |
| Total purchase price | € 39,072,106 |