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Business Description

Inspired by a love of real Italian pizza, Pizza Express has been pioneering delicious handmade pizza since 1965.

PizzaExpress is the market-leading casual dining brand in the UK, where the company currently operates over 484 sites. The company also has strong positions across international markets with around 100 sites trading across 13 different markets.

Bond Information

Coupon
8.625%
01 Aug 2022

Exchanged On

15 Jan 2021

Previous Payment
01 Aug 2022
Interest Period
6 months
XS1028948047
Unsecured
£200,000,000
S&P:  NR
Moody's:  WR
01 Aug 2019 at 102.156
01 Aug 2020 at 100
Status
Exchanged

* Current Yield and Yield to Maturity are on estimated return calculations and not guaranteed. All yields shown are gross of Taxation and our Service Fee.

Company Information

Company Legal Name
Twinkle Pizza Holdings plc
Industry
Consumer & Food
Country of Origin
UK
Year of Incorporation
1965
Ownership Status
Private

Capital Structure

Type £m x EBITDA* % of capitalisation* EBITDA/Interest*
Cash and equivalents na na na na
Leases NPV na na na na
Net super senior debt na na na na
1st lien secured debt na na na na
Net debt na na na na
Equity value na na na na
Enterprise value na na na na
LTM EBITDA 69.92          
Cash Interest 48.93          

Source: Aggredium

* An asterisk next to an item indicates there is additional information available if you hover over it. You can also find a definition of the terms used on this page in our Glossary.

Key Financials

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Important News

23 Oct 2020

Results of the (restructuring) plan meetings held on 21 October 2020

04 Aug 2020

Lock-up Announcement.

04 Aug 2020

Restructuring Presentation. As part of this agreement the coupon due Aug 1st was not paid - see "Key terms of the Lock-up Agreement" (Slide 14).

03 Aug 2020

Further extension of Consent Solicitation

12 Jun 2020

Pizza Express announced that is extending the deadline on it's consent solicitation to approve amendments and waivers to the indenture relating to the Senior Secured Notes due 2021

12 Jun 2020

Pizza Express announced that is extending the deadline on it's consent solicitation to approve amendments and waivers to the indenture relating to the Senior Notes due 2022

01 May 2020

Pizza Express has entered into a new super senior facility agreement

01 May 2020

Pizza Express announced that is soliciting consent to approve amendments and waivers to the indenture relating to the Senior Notes due 2022

01 May 2020

Pizza Express announced that is soliciting consent to approve amendments and waivers to the indenture relating to the Senior Secured Notes due 2021

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Please note as a WiseAlpha member you are not lending directly to the corporate borrower. Instead, you are purchasing Fractional Bonds, each one backed by a specific bond. See Risk Statement.