Thu 05/26/2022 12:24 PM
French chilled dough and pancake maker Cerelia held a lender call Wednesday, May 25, to seek an amendment to its permitted debt covenants to be able to raise an €80 million loan guaranteed by the French state as well as implement a potential sale and leaseback transaction to shore up liquidity in the face of soaring input costs. In return, sponsor Ardian will provide an equity commitment of up to €25 million to maintain a minimum liquidity level, sources told Reorg.
EMEA Covenants has...
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2024 Reorg Research, Inc. All rights reserved.