Advising CA CIB in the framework of the issue by Monoprix, the retail chain owned by Casino, of bonds redeemable in shares (ORA) for a total of EUR 500 million.
This issue strengthens its equity base and provides the resources necessary to finance its long-term development.
The ORA bonds will mature in three years and are fully subscribed by Crédit Agricole Corporate and Investment Bank (CACIB). Casino has a purchase option on these ORA, which it may exercise, in part or in full, between June 2014 and October 2016.
Casino strengthens its financial structure thanks to this operation.
Upon maturity in December 2016, the ORA bonds will be redeemed in newly issued Monoprix preferred shares, representing 21.2% of the issuer’s capital. These preferred shares will give the right to a supplementary dividend.