Cork popped on Searcy’s acquisition loan

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By Owen Sanderson
11 Feb 2019

Banks have started marketing the sterling loan to fund the acquisition of a stake in Westbury Street Holdings, the parent company of Searcy’s champagne bars and Benugo coffee bars, with a £363m seven year term loan and a £91m eight year second lien on offer.

Goldman Sachs, HSBC, UBS, and Investec are physical bookrunners, with ING and Rabobank as the other bookrunners.

The deal funds the purchase of a majority stake in the group by US sponsor Clayton, Dubilier and Rice, announced at the beginning of the year. ...

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