Groupe Casino: Update on the grace periods (délais de grâce) relating to the notes issued by the Casino group

Update on the grace periods (délais de grâce) relating to the notes issued by the Casino group

Paris, 25 August 2023

As an update to its noteholders, the Casino group indicates that the President of the Paris Commercial Court (Président du tribunal de commerce de Paris) will rule in September on requests for grace periods (délais de grâce) relating to (i) the senior unsecured notes issued by Casino, due 2026 and 2027, (ii) the EMTN notes due 2026¹, and (iii) the TSSDIs issued in 2005.

For the time being, the President of the Paris Commercial Court has temporarily suspended all payment obligations in respect of these notes.

It is recalled that:

the conciliators (conciliateurs) have asked for the benefit of the Group, for the duration of the conciliation proceedings (i.e. until the 25th of October at the latest), for a standstill for any payment of interest and other fees (i.e. circa €130 million), and instalments of principal (i.e. circa €70 million) owed over this period by the Group companies parties to the conciliation proceedings.

With regard to creditors who refused to grant the required consents, the Group indicated that it would request from the President of the Commercial Court the application of the délais de grâce pursuant to article L. 611-7 of the French Commercial Code.

This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.

***

ANALYSTS AND INVESTORS CONTACTS
Christopher WELTON – Tél : +33 (0)1 53 65 64 17
cwelton.exterieur@groupe-casino.fr
or
+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr

PRESS CONTACTS
Groupe Casino – Communications Director
Nicolas BOUDOT - nboudot@groupe-casino.fr - + 33 (0)6 79 61 40 99
or
+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr

Agence IMAGE 7
Karine Allouis – Tel : +33(0)1 53 70 74 84 - kallouis@image7.fr

Laurent Poinsot – Tel : + 33(0)6 80 11 73 52 - lpoinsot@image7.fr

Franck Pasquier – Tel : + 33(0)6 73 62 57 99 - fpasquier@image7.fr

1 Holders of the EMTN notes due 2024 and 2025 have consented to the waiver requested by the conciliators.

Attachment

• 2023-087-25 - PR - Grace Period