Deutsche Bank has emerged as the most likely lender to refinance Public Hospitality Group, the heavily indebted pub empire run by former KPMG deal maker Jon Adgemis.
As first revealed by The Australian FinancialReview’s Street Talk column, Bain Capital walked away from a $500 million refinancing of his empire earlier this month. Mr Adgemis had been struggling to come up with a $2.5 million bond the firm had demanded. Bain had used consultants to survey PHG’s suppliers to be assured of the true size of his debts, sources said.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
