Priszm Income Fund in talks with lender after financing expires

By Caroline Salls

Pittsburgh, Feb. 1 - Priszm Income Fund is in talks with its senior debt lender regarding forbearance and financing agreements that expired on Monday, according to a company news release.

Priszm said it and the lender are also in discussions with franchisor YUM! Restaurants International regarding the extension of franchise agreements for 70 restaurants that expired on Jan. 15, as well as forbearance on outstanding fees.

The company said it expects to provide an update in the next few days.

Toronto-based Priszm Income Fund holds a 60% interest in Priszm LP, which owns and operates more than 400 quick-service restaurants in seven provinces across Canada, including KFC, Taco Bell and Pizza Hut.

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