RALLYE : Success of the Global Tender Offer Launched by Rallye on Its Unsecured Debt
06 Avril 2022 - 06:17PM
Business Wire
Regulatory News:
Rallye (Paris:RAL) announces today the success of the global
tender offer on its unsecured debt launched on March 23, 2022 (the
“Tender Offer”) (see Rallye’s press release dated 23 March
2022).
The Tender Offer was well received by the holders of unsecured
debt so that the total amount of unsecured debt offered by
creditors for purchase exceeds the maximum amount of the Tender
Offer set at 37 million euros (see Rallye’s press release dated 23
March 2022).
Considering the success of the Tender Offer, the pro ration
factor is set at 75.64%.
Subject to the fulfillment of the condition precedent set out
below:
- Rallye will spend EUR 36.6 million of cash to acquire EUR 242.3
million of nominal amount of unsecured debt, reducing the total
amount of its net financial debt by approximately EUR 234.8 million
(including accrued interests);
- the total nominal amount of unsecured debt purchased under the
Tender Offer is allocated as follows: EUR 240.5 million for bonds
and EUR 1.8 million for the other unsecured claims; and
- by exception, any offer made for only one note will not be
subject to the pro-ration factor and will be served in full.
Completion of the Tender Offer is, inter alia, subject to the
approval by the Paris Commercial Court of the amendment to Rallye’s
safeguard plan in order to authorize the effective completion of
the Tender Offer.
As an indication, it is anticipated that the settlement of the
Tender Offer will occur at the beginning of May 2022.
Distribution of this document in some jurisdictions may be
restricted by law. Those in possession of this document are
required to obtain information themselves and to comply with all
legal and regulatory restrictions
----
Annex
Breakdown of Rallye’s unsecured debt (in
nominal amount) acquired under the Tender Offer
Debt instruments (€m)
Nominal Pre-Tender Offer
amount
Nominal Amount acquired under
the Tender Offer
Nominal Post-Tender
Offer amount
2022 Notes (ISIN FR0012017903)
82.50
25.70
56.80
2020 EMTN Notes (ISIN CH0341440326)
61.05
3.81
57.24
2021 EMTN Notes (ISIN FR0011801596)
438.60
77.30
361.30
2023 EMTN Notes (ISIN FR0013257557)
328.00
60.70
267.30
2024 EMTN Notes (ISIN CH0398013778)
71.25
7.69
63.56
Non-Dilutive Notes 2022 (ISIN
FR0013215415)
154.20
65.30
88.90
Exchangeable Notes (ISIN FR0011567908)
2.92
0.02
2.90
Sub-total Notes
1,138.52
240.51
898.01
Commercial Papers
48.50
48.50
(ISIN FR0125661951, ISIN FR0125557555,
ISIN FR0125613697, ISIN FR0125510067, ISIN FR0125500134, ISIN
FR0125629693)
Claims secured by shares in subsidiaries
other than Casino
116.90
116.90
Unsecured banking claims
182.32
1.76
180.56
Commercial claims
0.62
0.62
TOTAL
1,486.85
242.27
1,244.58
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220406005895/en/
Press contact: PLEAD Étienne Dubanchet +33 6 62 70 09 43
etienne.dubanchet@plead.fr
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