Casino refi tightens pricing as investors shrug off Rallye overhang

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By Owen Sanderson
30 Mar 2021

Leads have tightened pricing and increased the size of Casino’s maturity-pushing loan and bond refi, with investors keen to buy the company’s turnaround story and looking past the troubles of holding company Rallye, which needs to find a big slug of cash to pay bondholders in 2023.

Global coordinators Credit Suisse and Goldman Sachs tightened pricing on the €800m five year term loan on Monday, from the 425bp and 99.5-99.75 initial range to 400bp-425bp at 99.75.

BNP Paribas and JP Morgan, leading the €425m unsecured seven year bond, tightened talk from 5.5% price thoughts to 5.375%, ...

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