UK - Blackstone in £1bn refinancing of Center Parcs
Blackstone has refinanced portfolio holiday village operator company Center Parcs. The £1bn refinancing has reduced the size of the company's debt and follows the reverse sale-and-leaseback of Center Parcs' property. Blackstone backed Center Parcs to re-acquire its property assets, which had been owned by Sun Capital since 2002, in an £825m deal. With property to underpin the company, it can now borrow on better terms.
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