October 26, 2023
Willkie advised a group of holders of high-yield unsecured bonds and unsecured bonds of the EMTN program (totaling €2.2 billion) of Casino Guichard Perrachon in the context of the discussions relating to its financial restructuring and the takeover by a consortium of investors composed of EP Equity Investment (controlled by Daniel Křetínský), Fimalac and Attestor.
On October 17, Casino Guichard Perrachon announced the conclusion of a lock-up agreement relating to its financial restructuring and recapitalization supported by 51.0% of Casino’s unsecured bondholders. The lock-up agreement provides for a net debt reduction of nearly €6.1 billion through the conversion into equity of the entire unsecured debt (more than €3.5 billion) and of approximately €1.3 billion of Casino’s secured debt facilities, as well as an equity injection of nearly €1.2 billion provided mainly by the investors consortium led by EP Equity Investment (€925 million) and open to creditors for the balance (€275 million).
The Willkie team was led by partner Lionel Spizzichino with associates Batiste Saint-Guily, Joséphine Maire and Alcyde Le Poder, and included partners Thomas Binet, Gabriel Flandin, Graham Lane, Melainie Mansfield and Mark Stancil and associates Jason Taylor, Victor Cann and Ralph Unger.
On October 17, Casino Guichard Perrachon announced the conclusion of a lock-up agreement relating to its financial restructuring and recapitalization supported by 51.0% of Casino’s unsecured bondholders. The lock-up agreement provides for a net debt reduction of nearly €6.1 billion through the conversion into equity of the entire unsecured debt (more than €3.5 billion) and of approximately €1.3 billion of Casino’s secured debt facilities, as well as an equity injection of nearly €1.2 billion provided mainly by the investors consortium led by EP Equity Investment (€925 million) and open to creditors for the balance (€275 million).
The Willkie team was led by partner Lionel Spizzichino with associates Batiste Saint-Guily, Joséphine Maire and Alcyde Le Poder, and included partners Thomas Binet, Gabriel Flandin, Graham Lane, Melainie Mansfield and Mark Stancil and associates Jason Taylor, Victor Cann and Ralph Unger.
