-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Strong Support For Casino Group’s Accelerated Safeguard Plans
- All creditor classes, at Casino Group, except one, overwhelmingly approved the draft accelerated safeguard plans after online voting on Wednesday and in-person voting yesterday (as did shareholders).
- Green Yellow Holding opposed the plan, marking the only dissent across all classes.
- We don’t yet see much in the way of any liquid prices for Casino bonds and their equity is yet to open.
- The accelerated safeguard procedure was opened by the specialized commercial court of Paris on 25 October for two months and extended for two further months.
- The plan aims to ensure the sustainability of Casino and its subsidiaries. Key components include a €1.2bn equity contribution at Casino's level, with €925mn from the Křetínský-led Consortium and €275mn available for subscription by various creditors.
- Secured debt at Casino's level, totaling €4.5bn, will see €1.5bn converted into equity and the €2.1bn reinstated with extended maturities.
- Unsecured debt treatment involves converting all Noteholders' Debt Claims and perpetual deeply subordinated notes known as TSSDIs (totalling around €3.5bn and $5mn) into equity, along with specific allocations and fees.
- HY Quatrim bonds and related guarantees will be restructured, including a €553mn reinstatement at Quatrim level with a 3yr maturity extension and option for an additional year.
- Additional restructuring measures beyond the plan include full repayment of Regera Bonds by Monoprix Exploitation, provision of new operational financing totaling approximately €1.2bn, and granting a new €75mn credit line for Monoprix Holding and Naturalia France.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.