Casino refi tightens pricing as investors shrug off Rallye overhang

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By Owen Sanderson
31 Mar 2021

Leads tightened pricing and increased the size of an opportunistic maturity-pushing loan and bond refinancing for French supermarket Casino this week, with investors keen to buy the company’s turnaround story and look past the troubles of its holding company, Rallye, which needs a slug of cash to pay bondholders in 2023.

Global coordinators Credit Suisse and Goldman Sachs pushed pricing on the €800m five year term loan from initial price talk of 425bp and 99.5-99.75 to 400bp-425bp at 99.75, with a revision on Monday, pricing at the tight end of this range and increasing the tranche to €1bn on ...

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