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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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

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1 Bank of America Merrill Lynch 251.51 1 25.00%
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