Subway comes up with debt plan to clinch $10 billion-plus sale

by DailyBriefers
0 comment

Business & FinanceDeals

Reuters was first to report on Sunday that the bankers running the sale process for Subway have given the private equity firms vying for the sandwich chain a $5 billion acquisition financing plan, hoping to overcome a challenging environment for leveraged buyouts and fetch the company’s asking price of more than $10 billion. So far, bids for Subway have ranged between $8.5 billion and $10 billion. Second-round bids for Subway came in last week from more than 10 private-equity firms – Bain Capital, TPG, Advent International Corp, TDR Capital, Goldman Sachs Group Inc’s buyout arm and Roark Capital are among the private-equity firms that are participating in the auction.

Market Impact

Subway reported earlier this month that global comparable sales were 12.1% higher in the first quarter and that guest visits rose, driven in part by restaurant renovations. It has been facing growing competition from rivals such as Jimmy John’s, Firehouse Subs (QSR.TO), Jersey Mike’s Subs and Potbelly Corp (PBPB.O). 

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & Finance

Regions: Americas

Countries: United States

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

You may also like

Leave a Comment