Park Resorts restructures £325m of debt
Park Resorts, the British caravan park company, has secured a £325m debt deal with lenders.
Lenders, which include Lloyds Banking Group, will gain a 5 per cent stake in the company, but Park Resorts' owners - the private equity firm GI Partners - will retain control.
Park Resorts has seen caravan sales for the first half of the year increase by more than 40 per cent and has predicted that EBITDA will be up 80 per cent compared to 2008.
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