Debt-laden French retailer Casino has agreed to sell 567 Leader Price stores in France, plus three warehouses, to German discount rival Aldi in a deal with an enterprise value of 735 million euros. Article content. PARIS — Debt-laden French retailer Casino has agreed to sell its 567 Leader Price stores in France, plus three warehouses, to German discount rival Aldi in a deal with an enterprise value of 735 million euros ($792 million), it said on Friday.
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French supermarket group Casino has launched a refinancing to clean out its upcoming debt maturities, hitting the final issuance slot given the long syndication timeline for raising a term loan' B'. It aims to issue a €200m TLB and a €300m unsecured bond, while launching a tender offer to buy back up to €1.2bn of outstanding debt.
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Casino said that after the transaction it will have largely covered maturities until 2024. If it is unable to buy back all the bonds it wants during the tender, it will place the new cash in a segregated account to repay maturities.
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