Brief: Marie Brizard Wine & Spirits Announces Tripartite Agreement On Sale Of Bank Debt

Marie Brizard Wine and Spirits SA

17/01/2020 17:50

Jan 17 (Reuters) - Marie Brizard Wine and Spirits SA
 MBWS.PA :
    * MARIE BRIZARD WINE & SPIRITS: BANKS AGREEMENT
    * IMPLEMENTATION OF FIRST TRANCHE OF CURRENT ACCOUNT ADVANCE
FROM
COFEPP AMOUNTING TO EUR 7.6M
    * FINAL AGREEMENT BETWEEN COFEPP, MBWS AND ITS BANKS FOR
SALE OF
ALL OUTSTANDING BANK DEBT
    * ANNOUNCES EXECUTION TODAY OF A TRIPARTITE AGREEMENT
REGARDING
SALE, BY MBWS' BANK LENDERS, OF COMPANY'S BANK DEBT
    * COFEPP AND MBWS ALSO AGREED TO POSTPONE UNTIL 31 JAN. 2020
DEADLINE FOR LIFTING OF CONDITIONS PRECEDENT FOR TRANSFER OF
SECOND TRANCHE OF ABOUT EUR 7.4 MILLION UNDER BRIDGE N°1
    * IN ADDITION, COFEPP HAS GRANTED MBWS MORATORIUM ON
REPAYMENT OF
THESE BANK DEBTS, WHICH ARE TO BE CAPITALIZED AS PART OF
PROPOSED CAPITAL INCREASE
    * FURTHER DETAILS WILL BE PROVIDED AT LATER DATE ON EXACT
TERMS OF
CAPITAL INCREASE ACCORDING TO PROGRESS ON LIFTING OF CONDITIONS
PRECEDENT

Source text for Eikon:  ID:nGNE7cP4qc 
Further company coverage:  MBWS.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7785110;))