Global law firm White & Case LLP has advised retailer Casino Guichard-Perrachon in connection with the issue of its €750 million undated deeply subordinated notes bearing interest at a fixed rate of 4.870 percent per annum until 2019, then at a fixed rate calculated every five years on the basis of the five-year swap rate.
The use of proceeds of the issue will be recorded as "equity" in the IFRS consolidated financial statements of the company. In addition, Standard & Poor’s and Fitch rating agencies will apply a 50 percent equity content to the issue proceeds, for the purpose of the company’s credit ratios. The notes were listed on the regulated market of the Luxembourg Stock Exchange.
The White & Case LLP team was led by capital markets partners Gilles Endréo and Séverin Robillard, assisted by associates Grégoire Karila and Anne-Laure Jennequin. The tax issues were handled by Alexandre Ippolito, assisted by associates Estelle Philippi-Jung and Marcus Schmidbauer.
For more information please speak to your local media contact.