A trio of City firms have taken lead roles on the refinancing of European payment network, Payzone. The deal saw private equity investor Duke Street inject €45m (£39m) into Ireland-based Payzone, giving the buyout house a controlling stake in the business. The deal also involved a syndicate of lending banks taking a 16% stake in Payzone, with the overall restructuring seeing the total amount of debt owed to the syndicate reducing from €320m (£278m) to €82m (£71m).
February 17, 2010 at 07:04 PM
1 minute read
The original version of this story was published on Legalweek
A trio of City firms have taken lead roles on the refinancing of European payment network, Payzone.
The deal saw private equity investor Duke Street inject €45m (£39m) into Ireland-based Payzone, giving the buyout house a controlling stake in the business. The deal also involved a syndicate of lending banks taking a 16% stake in Payzone, with the overall restructuring seeing the total amount of debt owed to the syndicate reducing from €320m (£278m) to €82m (£71m).
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