>Bay Restaurant Group refinances to tune of £150m

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>Bay Restaurant Group (BRG), which operates La Tasca, Slug & Lettuce and ha ha bar & grill eateries, has reduced its debt by between £100m and £150m following a refinancing, according to sources.
The 180 strong group, which emerged from the controversial ‘pre-pack’ administration deal of Laurel Pub Company last year, said it had refinanced to the tune of £150m, with debt believed to have been cut by up to £150m.
BRG said it had agreed the new facility terms with Icelandic bank Kaupthing and Germany’s Commerzbank until 2012.

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