Australia’s PEP eyes US debt financing market
Pacific Equity Partners (PEP) is considering US refinancing options for several of its portfolio companies after a well received debt offering for movie theater chain Hoyts in May. The Australian GP is one of several to opt for US over domestic debt markets, noting that the terms are more favorable even when factoring in foreign exchange hedging costs. Local banks are beginning to respond by offering better terms themselves.
"We completed a refinancing of Hoyts in the US market and that was very successful - it was well received by investors and we were able to upsize the offer. It's the first time we have done something like...
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