Fri 06/17/2022 11:41 AM
French chilled dough and pancake maker Cerelia has updated its covenant amendment proposal to reduce the size of the state-guaranteed loan, or PGE, it seeks to raise by €10 million to €70 million, sources told Reorg. The revised plan also envisages that sponsor Ardian will provide €10 million of equity upfront and a conditional expected credit loss, or ECL, for a maximum of €15 million.
The updated request, which was shared with lenders Thursday, June 16, requires a majority approval by...
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