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Updated · Bloomberg · Jun 22Godiva Japan Seeks $464 Million LBO Loan Extension as ¥75 Billion Deadline Looms
2 articles · Updated · Bloomberg · Jun 22Summary
- Godiva Japan is negotiating with its banking syndicate to push back repayment of about ¥75 billion, or $464 million, due by the end of June.
- The extension talks come as the operator of the Belgian luxury chocolate brand struggles in Japan, one of Asia's biggest consumer markets.
- MBK Partners took over Godiva Japan in 2019, and the debt in question stems from that leveraged buyout financing.
Insights
As a 'maturity wall' looms for leveraged loans, is Godiva Japan's struggle just the first domino to fall for private equity deals? With popular new products selling out, is Godiva's debt crisis a sign of a broken business or simply a flawed financial strategy?