Pierre & Vacances – Center Parcs Group Signs an Agreement with Investors and Creditors

March 17, 2022

Paris - As part of the process announced on December 20, 2021 in connection with the goal to strengthen its equity, a project which has been underway for nearly a year, the Pierre & Vacances – Center Parcs Group has entered into an agreement on March 10, 2022 with Alcentra (a Group’s financial creditor), Fidera (also a Group’s financial creditor) and Atream (a Group’s institutional landlord), as well as with its main bank creditors, its Euro PP creditors and its main Ornane bondholders.

The agreement meets the Company’s and its founder’s objectives of preserving the integrity of the Group and achieving a balanced financial structure by reducing its indebtedness and securing the necessary liquidity to enable it to deploy its strategic plan ‘ReInvention 2025’.

Paul Hastings represented the Euro PP bondholders. with a team led by Guilhem Bremond (partner) and included associate Laura Coz on the restructuring aspects as well as Olivier Vermeulen (partner), Marc Zerah (partner) and Peter Pedrazzani (associate) on the financing aspects.

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