ZPG to refinance bank debt with proposed £400 million debt package

By Sarah Lizee

Olympia, Wash., Jan. 8 – ZPG plc said it plans to fully repay its existing revolving credit facility and pay amounts outstanding under its existing term loans using proceeds from a new debt package consisting of a £200 million revolver and £200 million of senior notes due 2023.

Proceeds, along with cash on hand, will also be used to pay expenses related to the refinancing, according to a company announcement.

ZPG is a London-based owner and operator of online property portals.

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