Center Parcs launches refi after holiday villages reopen

center parcs 575x375 from company
By Owen Sanderson
07 Sep 2020

Center Parcs has launched a refinancing of its class ‘B’ debt, taking advantage of better sentiment and a resumption of holiday bookings in its UK locations to push out a 2022 maturity in its subordinated debt.

On offer through Barclays is £230m of six year class ‘B5’ notes, rated B-/B, which will part-fund a tender for its 2022 ‘B3’ notes. As with other leisure and tourism credits, the borrower has been hit hard by the pandemic, with the closure of all of its major ...

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