Report
Anne-Barbara Nicco

Casino : Casino issues inaugural secured debt instruments

The announcement of the approximately € 3.5bn secured refinancing programme (including a € 750m senior secured bond issue) and tender offers on the 2020, 2021 and 2022 EMTN has sharply repriced Casino’s yield curve. Prices of long-dated bonds (not subject to the tender and now subordinated) have logically fallen, pushing their yields up to higher levels today than at the start of June after Rallye’s safeguard procedure was announced. - Although this new subordination admittedly ha...
Underlying
Casino Guichard-Perrachon SA

Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Anne-Barbara Nicco

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