UK - Somerfield £1bn refinancing scrapped
Apax Partners and Barclays Capital's intended ТЃ1bn recapitalisation of portfolio company Somerfield has been shelved due to stagnation in the debt markets. The deal would have enabled Apax, Barclays and property entrepeneur Robert Tchenguiz to realise cash from through a new issue of commercial mortgage-backed securities.
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