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HomeLatest NewsThe parent company of Telepizza and Pizza Hut signs agreements to recapitalize...

The parent company of Telepizza and Pizza Hut signs agreements to recapitalize its debt

Date: May 20, 2024 Time: 09:17:57

The Food Delivery Brands restaurant group, which has important brands for the sector such as Telepizza or Pizza Hut, has announced the signing of a construction agreement. In addition, it has launched an interim financing project, with a group of holders of the group’s senior guaranteed bonds (the AHG), to recapitalize the debt.

Said bondholders represent 67% of the total, as reported by the company, which, in this way, has taken another step in the implementation of the necessary strategy to boost its business and future growth. The proposal for the refinancing and recapitalization of the existing debt of the group includes a capitalization of said bonds.

Specifically, the terms reached in the framework agreement and for interim financing, which are binding, incorporate the bondholders’ (AHG) commitment to provide interim financing to cover the group’s liquidity. It also includes the extension of the temporary suspension granted on January 16 on the payment of interest on senior bonds, maturing on that date, until April 15.

A strategic review to drive growth

“The signing of these agreements represents a new milestone in the strategic review launched by the group at the end of November 2022 to analyze possible financial alternatives with its creditors with the aim of facing the impact of adverse market conditions and boosting growth. future of the growth group”, highlighted the company.

Within the framework of said strategic review, the group has also carried out in recent weeks the redefinition of its alliance with Yum! to focus from now on Spain, Portugal, Mexico, Ecuador, Colombia, Chile and Ireland with the aim of driving growth in these key markets and adding value to the group.

Food Delivery Brands increased sales at the end of the third quarter of 2022 of 958 million euros, which is 18% more than in the same period of the previous year and 4.6% above the pre-pandemic levels of September 2019.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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