Alain Afflelou - New Issue Comment
French optical retailer Alain Afflelou has launched the refinancing of its entire debt structure through the issuance of new €425m senior secured notes due October 2023 (split into fixed and floating tranches). A new €30m RCF due April 2023 will replace the existing one. Proceeds from the new notes, along with €33m of cash on the balance sheet, will be used to fully call the €365m 5.625% senior secured notes and the €75m 7.875% senior notes due April 2019.
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