casino guichardperrachon said late on wednesday that it sees necessary to convert unsecured and secured debt into capital in order to have a debt structure compatible with its business plan to 2025 the proposal made to stakeholders as part of the french companys conciliation proceedings relate to between 1 billion and 15 billion euros 109 billion164 billion of secured debt and to around eur36 billion of unsecured debt instruments casino said that senior secured notes issued by quatrim would be rescheduled and repaid with the funds from the divestment of real estate assets securing the notes the company said that with this proposal it is aiming for a net debt to earnings before interest taxes depreciation and amortization ratio of 10 by the year 2025 casino said it would discuss the proposal with its potential new equity providers and with its financial creditors in any event the current shareholders of casino will be massively diluted and rallye will no longer control casino the company said