PEP-owned Hoyts seeks US debt financing
Australian movie theater operator Hoyts Group, which is owned by Pacific Equity Partners (PEP), is looking to raise $450 million in the US high-yield debt market. It is the latest in a string of Australian corporates to take advantage of strong liquidity in the US leveraged lending market, where the terms are seen as better than those available domestically.
Hoyts wants to raise $310 million through a seven-year, first-lien, senior secured bank loan and a further $100 million in second-lien financing, due in seven-and-a-half years, Bloomberg reported. There...
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