Ashurst LLP has advised the lenders on the refinancing of Park Resorts' debt facilities. The refinancing, which is due to complete within the next two weeks, will reduce the existing senior debt from £353 million to £316 million and extend maturity to December 2017. The transaction will also see funds managed or advised by Electra Partners (including Electra Private Equity plc and third party investors) become the majority shareholders in the company. Existing shareholder GI Partners will become a minority shareholder, together with management.

Tim Rennie, international finance partner at Ashurst LLP commented: "We are delighted to have represented the senior lenders again in connection with the recent restructuring of Park Resorts' debt facilities. This was an interesting transaction for us to work on, taking into account Electra's significant interest in both the debt and equity of the group post-transaction."

The Ashurst team was led by international finance partner Tim Rennie, assisted by associates Andrew Martin and Anna Bartl.