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Foodco amends indenture for 6¼% secured notes due 2026
By William Gullotti
Buffalo, N.Y., July 13 – Foodco Bondco SAU (Telepizza) amended the indenture governing the company’s 6¼% secured notes due 2026 with the consent of over 90% of the series’ noteholders, according to a notice on Thursday.
The amended terms for the notes will capitalize unpaid interest on the notes, effective July 13.
Also included in the amendments were provisions for interest going forward to be capitalized as payment-in-kind interest on a monthly basis at 6¼% per annum.
Furthermore, noteholders of a majority in aggregate principal amount of the notes will be permitted to instruct for interest due on July 15 and Jan. 15 of a particular year to be paid in cash and to instruct for capitalized interest to be paid in cash at any time.
Madrid-based Foodco is a subsidiary of Food Delivery Brands Group, SA.
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