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West End Theater Giant Seeks £1.2 Billion From Private Lenders

  • Private equity-backed theater owner looks to refinance debt
  • Direct lenders compete with banks over larger-deal lending
The Lyceum Theatre in London’s West End.

The Lyceum Theatre in London’s West End.

Photographer: Oli Scarff/Getty Images

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Ambassador Theatre Group Ltd., which owns venues in the West End and Broadway, is looking to refinance its debt with a direct lending deal worth as much as £1.2 billion ($1.4 billion).

The entertainment business, backed by Providence Equity Partners LLP, is speaking to direct lending firms about the potential refinancing, according to people familiar with the matter, who are not authorized to speak publicly. No deal has yet been struck, the people said.