HPS primes Pizza Express bondholders with new £70m rescue pack
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HPS primes Pizza Express bondholders with new £70m rescue pack

Pizza Express 230x150

HPS Investment Partners is providing a super senior loan of £70m to troubled UK casual dining chain Pizza Express, paying back borrowing from owner Hony Capital and bank creditors, but pushing the bondholders' 6.625% £465m secured bonds down the recovery waterfall.

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