First rated public bond issue of ITM Entreprises

Press release

ITM Entreprises, the holding company of Groupement Mousquetaires, which includes the Intermarché, Netto, Bricorama, Brico Cash, Bricomarché, Roady and Rapid Pare-Brise brands, as well as the real estate and agri-food divisions of Groupement Mousquetaires, has successfully completed its first rated public bond issue, placed with institutional investors, for a total amount of €500,000,000.

This issue follows its inaugural public bond issue of July 2024 for a total amount of €300,000,000.

The bonds, the proceeds of which are intended to finance the issuer's general corporate purposes and/or to refinance part of the syndicated loan granted to the group for the acquisition of points of sale previously held by Casino France, bear interest at a rate of 4.125% per annum, mature on 29 January 2030 and are admitted to trading on the Euro MTF operated by the Luxembourg Stock Exchange. They have been granted investment grade ratings of BBB- by S&P Global Ratings Europe Limited and BBB by EthiFinance Ratings, S.L..

In the context of this transaction, BNP PARIBAS, Natixis Corporate & Investment Banking and Societe Generale acted as Global Coordinators and Active Bookrunners. Crédit Agricole CIB, HSBC and La Banque Postale also participated in the transaction as Active Bookrunners and Crédit Industriel et Commercial participated as Passive Bookrunner.

CMS Francis Lefebvre acted as legal advisor to the Global Coordinators and the syndicate with a team comprised of Rosetta Ferrère, partner, Florie Poisson and Victor Delion, associates.

ITM Entreprises was advised by Addleshaw Goddard (Europe) LLP, with a team comprised of Charles Tissier, partner, Stéphanie Chami, associate, and Lara Roig.