OneIM Provides £300 Million for Apollo Buyout of Wagamama Owner
- Firm set up by SoftBank’s Misra provides acquisition financing
- Apollo completed buyout of The Restaurant Group in December
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One Investment Management, the firm set up by SoftBank Vision Fund’s architect Rajeev Misra, provided a £300 million ($382 million) loan to support Apollo Global Management Inc.’s leveraged buyout of Wagamama owner The Restaurant Group Plc, according to a person with knowledge of the matter.
The financing was structured as a unitranche loan that matures in 2030 and pays interest of 6.5 percentage points over the benchmark, said the person, who requested anonymity discussing confidential information. It was issued at a discount of 98 cents on the dollar, the person said, adding that OneIM provided a further £50 million via a deferred acquisition facility. Apollo completed its buyout of London-listed TRG in December.