The public bond tender offer launched on Tuesday September 20th allows Casino to buyback respectively €150.0m, €95.2m and €88.1m of the bonds maturing in August 2019, January 2023 and August 2026, i.e. a cumulated nominal amount of €333.3m.
Bonds purchased by Casino in the context of this transaction will be cancelled on September 30th, 2016. Nominal amounts will then be reduced to €850.0m for bonds maturing in August 2019, €758.0m for bonds maturing in January 2023 and €513.9m for bonds maturing in August 2026.
This operation increases the amount of bond buyback in 2016 at €978m. Taking into account the redemption of the April 2016 bond, the total outstanding amount of Casino bonds has been reduced by €1,364m in 2016 to date.
This bond tender offer has no material impact on the financial expenses in 2016 and will improve the 2017 financial result by c.€10m.