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Food Delivery enters restructuring, cancels 6¼% notes due 2026
By Mary-Katherine Stinson
Lexington, Ky., Jan. 29 – Food Delivery Brands Group, SA canceled its €335 million 6¼% secured notes due 2026 (ISIN: XS1990734359, XS1990733898) as part of subsidiary Foodco Bondco SAU (Telepizza)’s restructuring plan, according to a notice.
All the notes were canceled and partially exchanged with a new loan facility and partially capitalized or, at the noteholder’s request, given an alternative consideration instead of capitalization.
Foodco’s restructuring plan, dated July 14, was homologated by Commercial Court No. 5 of Madrid through an order on Sept. 28. On Jan. 17, restructuring was implemented as of the effective date defined in the plan.
After the transactions, there are no 6¼% secured notes remaining outstanding.
Food Delivery Brands Group is based in Madrid.
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