Fimalac to provide new financing for Casino's holding company

Finatis SA

30/03/2020 07:20

PARIS, March 30 (Reuters) - French financial group Fimalac
has agreed to provide new financing facilities for Rallye
 GENC.PA , the holding company behind supermarket retailer
Casino  CASP.PA  which has been under pressure to cut its debts.
    Rallye said on Monday that Fimalac had undertaken to provide
a financing facility with a maturity of 4 years - with a
one-year extension subject to Fimalac's agreement - either to a
subsidiary of Rallye unit Euris until 31 December 2020, or to
Rallye at the latest on 5 January 2021, in order to allow the
repayment of all certain derivatives transactions.
    The maximum amount of this facility is 215 million euros 
($238.4 million). Casino and Rallye head Jean-Charles Naouri
will also look to give Fimalac a boardroom seat at Casino.
    ($1 = 0.9020 euros)

 (Reporting by Sudip Kar-Gupta, Editing by Louise Heavens)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))