Business: #1 frozen food retailer in France and the brand of choice for the French Food Retail market. HQ: Issy-les-Moulineaux, France
Corporate Ratings: B2/B/B (Moody's/S&P/Fitch)
Issue Ratings: B2/B/B+ (Moody's/S&P/Fitch)
Use of Proceeds: along with EUR8m cash on hand, to redeem Lion/Polaris Luux 4 (LIPOLU) EUR775m FRN due 07/01/29 (callable at 100).
Issue Type: Floating Rate Senior Secured Notes due 2032
Size: €775 million
Tenor: 6 years
Call Protection: NC1 (MWC B+50bp), then at Par
Format: 144A/Reg S. No reg rights.
Denominations: €100k x €1k
Bookrunners:
Global Coordinators and Physical Bookrunners: Goldman Sachs Bank Europe SE (B&D), HSBC
Joint Bookrunner: BNP Paribas
Clearing / Settlement: Euroclear / Clearstream
Listing: TISE
Governing Law: New York
Equity sponsors: the Zouari family (50.2%) and Intermediate Capital Group plc (ICG) (49.7%).
Target Market: Manufacturer target market (EU MIFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or in the UK
Timing: Tomorrow's business
Marketing:
Small Group Meetings: Virtual meetings Today, 06-Jul-26 and Tuesday, 07-Jul-26