Pret a Manger hopes to build lender appetite

Pret a Manger will turn to institutional investors for the bulk of its new £375m loan package. The bulk of the UK sandwich shop chain’s planned credit facility is a £265m term loan ‘B’, while the deal also includes a £40m amortising term loan ‘A’, a £30m revolver and a £40m capital expenditure facility.

  • By Olivier Holmey
  • 25 Jun 2013
Pret expects the new £305m of drawn debt to reduce its interest rate payments by a third. The company’s leverage is to reach over 4 times Ebitda. Pret’s debt to Ebitda ratio had been 5.2 times at the time of its acquisition by private equity firm Bridgepoint five ...

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