Casino: refinancing done, on to next steps

All,

Refinancing done - on to the next steps. Company still aiming to do €2bn of asset sales before May 2021, €1bn of which is achievable without disturbing the Segisor holding entity for LATAM assets.

Casino managed to upsize and close their TLB and Secured Notes. Size was upsized from a combined €1.5bn to €1.8bn, enabling the Company to tender for an additional €300m of the 2021 and 2022 bonds.

Allocation was c. 30% of the bonds and 50% of the Term Loan B, with offers on the SSN at 102.25% this morning.

This increases near term liquidity, with clear runway now until May 2021.

Likely next steps/news is the expected extension of Sauvegarde in late November at the Rallye entity. For Casino, any update in relation to the Lesder Price asset sale, as next reporting from Company mid January with 4th quarter sales report.