Casino - comment

Casino have come to an agreement in principle with Quantrim holders, concerning the extension of the facility by three years to January 2027, with an additional 1yr extension at the Company’s option.  The facility is still theoretically over collateralised, with portfolio valuation as at December 2022 of €752m.  The coupon has stepped up to 8.5% and will become Pay-If-You-Can.  Coupon will also change, up to 9.5% or down to 7.5%, depending on actual disposals versus the plan.  In addition, Quantrim notes will partially benefit from further asset sales from either GreenYellow, Casino Participations France (CPF) real estate assets and other CPF assets.  

This is still subject to the completion of the overall restructuring transactions.