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Center Parcs slices coupon in final leg of class B refi

center parcs 575x375 from company
By Silas Brown
26 Apr 2021

Center Parcs, the UK resort group owned by Brookfield, has sold a £255m high yield bond, in order to raise cash to redeem its remaining class ‘B’ notes due in 2022. The final coupon stood 2% inside where its September 2020 refinancing outing landed, reflecting investor confidence in the business’ position coming out of the pandemic. But the company accepts it is still facing challenges.

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By Silas Brown
26 Apr 2021