Pret a Manger wraps up syndication

UK sandwich shop chain Pret a Manger has completed the syndication of its new £375m senior facilities. The company expects to allocate the deal by Friday.

  • By Olivier Holmey
  • 01 Aug 2013

The debt's £265m term loan ‘B’ will be priced at 500bp over Libor, as planned, but at an OID of 98.

The new credit also includes a £40m term loan ‘A’, £30m revolver and £40m capex facility at 450bp. These tranches were not syndicated and are expected to price ...

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