Permira’s Telepizza to extend loans
Spanish pizza delivery chain Telepizza, backed by Permira, is asking lenders to extend the maturities of its loans, according to reports.
Permira is understood to be planning a €35m capital injection as a prepayment of senior debt, in a process set to start this week.
The firm is reportedly asking to extend the maturity of two thirds of the term loan A, revolving credit and capital expenditure facilities by two years to 2015. Telepizza also intends to extend term loan B to 2016 from 2014, term loan C to September 2016 from 2015 and second-lien loan by a year to 2017.
Permira acquired Telepizza for €850m in 2006, ending a five month battle for the firm. ING and Royal Bank of Scotland Group led the lenders to provide around €720m worth of loans.
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