Fri 06/17/2022 11:41 AM
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Cerelia covenant update from Reorg's EMEA Core Credit team.

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
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