Brief: Rallye Enters Facility To Refinance Its Derivatives Transactions

Finatis SA

02/03/2020 07:29

March 2 (Reuters) - RALLYE SA  GENC.PA :
    * EXECUTION OF A FACILITY FOR THE REFINANCING OF THE
DERIVATIVES
TRANSACTIONS OF RALLYE
    * THIS FACILITY, FOR A TOTAL AMOUNT OF UP TO 233 MILLION
EUROS AND
WITH FULLY PAID-IN-KIND INTERESTS
    * FACILITY WILL HAVE 4-YEAR DURATION AS FROM SIGNING OF
FACILITY
    * RALLYE MAY DRAW DOWN FACILITY (OR EP INVESTMENT S.À.R.L
MAY GIVE
EFFECT TO DRAWDOWN OF FACILITY), SUBJECT TO CUSTOMARY CONDITIONS
FOR SUCH TYPE OF FINANCING
    * FOR TRANCHE RELATING TO FINANCING OF GENERAL CORPORATE
NEEDS,
RALLYE MAY DRAW DOWN FACILITY AT ANY TIME AS FROM JUNE 2021
SUBJECT TO CUSTOMARY CONDITIONS FOR SUCH TYPE OF FINANCING
    * DRAWDOWN OF FACILITY REMAINS SUBJECT TO EXECUTION OF A
FIDUCIARY
TRUST AGREEMENT UNDER CONDITIONS SET FORTH BELOW
    * ASSUMING IT IS DRAWN DOWN, THIS FACILITY WOULD ALLOW
REPAYMENT
OF ALL AMOUNTS OWED UNDER DERIVATIVES TRANSACTIONS
    * EP INVESTMENT S.À.R.L WOULD BENEFIT FROM A FIDUCIARY TRUST
(FIDUCIE SÛRETÉ) OVER ONLY APPROX. 9.5 MILLION CASINO SHARES
    * ANY DIVIDEND DISTRIBUTION BY CASINO WITH RESPECT TO SHARES
INCLUDED IN FIDUCIARY TRUST WILL BE ALLOCATED TO REPAYMENT OF
FACILITY
    * EARLY REPAYMENT EVENTS: LOSS OF DIRECT OR INDIRECT CONTROL
BY
MR. JEAN-CHARLES NAOURI (OR ANY FAMILY MEMBER OR AFFILIATE) OF
EURIS, FINATIS, FONCIÈRE EURIS, RALLYE OR OF CASINO

Source text for Eikon:  ID:nBw28Xtnra 
Further company coverage:  GENC.PA 

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