Casino, Guichard-perrachon Sa · EURONEXT:CO
Casino, Guichard-perrachon Sa — Debt Investor Presentation (September 2023)
8 slides from Casino, Guichard-perrachon Sa's debt investor presentation, Sep 18, 2023
Slide 1: Update on the negotiations with the holders of notes issued by Quatrim
Update on the negotiations with the holders of notes issued by Quatrim 18 September 2023 Strictly Strictly confidential confidential
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by Casino, Guichard-Perrachon (“Casino” or the “Company”) in the context of the discussions and negotiations between it and certain of its creditors and other stakeholders in respect of a potential restructuring of its financial indebtedness and relat
Slide 3: Executive Summary
EXECUTIVE SUMMARY As announced on 27 July 2023, Casino Group has continued negotiations with the ad hoc group of holders of the senior secured notes issued by Quatrim (the “SSN”) representing a majority of noteholders (the “Ad Hoc Group”) in view of agreeing on the treatment of the Quatrim notes a
Slide 4: Quatrim SSN – Main Economic Terms (1/3)
QUATRIM SSN – MAIN ECONOMIC TERMS (1/3) Term Description Issuer Same as existing SSN: Quatrim SAS Treatment of accrued interest: c.€28m of accrued interest until the restructuring effective date will be (i) 50% repaid in cash on the restructuring effective date and (ii) 50% added to the pre-rest
Slide 5: Quatrim SSN – Main Economic Terms (2/3)
QUATRIM SSN – MAIN ECONOMIC TERMS (2/3) Term Description Pledge over the shares of Quatrim Pledge over the shares of IGC Pledge over Quatrim’s material bank accounts opened in France Collateral Pledge over Quatrim’s Bonds Segregated Accounts and Bonds Securities Accounts with respect to the
Slide 6: Quatrim SSN – Main Economic Terms (3/3)
QUATRIM SSN – MAIN ECONOMIC TERMS (3/3) Term Description Set up by the Quatrim noteholders of a steerco observer to monitor the asset disposal plan, Governance with step in rights in case of material breach of the asset disposal plan Disposal plan related to certain assets of Quatrim and its Sub
Slide 7: IGC Real Estate Portfolio Overview
IGC REAL ESTATE PORTFOLIO OVERVIEW ICG Portfolio Value Overview (Post Transfer Tax) as of 31/12/2022 (In €m) Quatrim perimeter Hypermarkets 195 Supermarkets 160 Convenient stores 11 Stores 366 Parking 149 Shopping centers & Petrol stations 133 Land and Others 104 Others 385 Total IGC 752 ICG Portfol
Slide 8: IGC – Real Estate Asset Disposal Plan
IGC – REAL ESTATE ASSET DISPOSAL PLAN1 Revised real estate asset disposal plan (in €m) 207 74 73 79 75 72 H2 2023 2024 2025 2026 2027 2028 Theoretical value of assets for Quatrim’s bondholders (In €m) Value (100%) Quatrim Share (%) Total Quatrim Perimeter2 732 100% 732 Cash in segregated accounts 20
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