Casino Group Secures Deal with Creditors
Casino Guichard-Perrachon (CO.PA) reached a conciliation agreement with its creditors, replacing its 700 million euros of revolving credit facility and operational financing with a new five-year revolving facility.The deal terms also allow the French retailer to continue using other facilities of 640 million euros for five years, according to a Thursday release. Separately, the creditors agreed to provide a new 175 million-euro first-demand guarantee line to meet the needs of the retailer's purchasing alliance.The new financing arrangements are subject to the completion of the company's financial restructuring plan. It has requested the Paris Economic Court to approve the agreement and plans to seek changes to its 2024 accelerated safeguard plan in the coming weeks.
