UK - Blackstone in £1bn refinancing of Center Parcs

Blackstone has refinanced portfolio holiday village operator company Center Parcs. The ТЃ1bn 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 ТЃ825m deal. With property to underpin the company, it can now borrow on better terms.