Fitch rates EG Global Finance notes B+

Fitch Ratings said it assigned EG Global Finance plc’s €1.27 billion-equivalent senior secured notes an expected issue rating of B+ with a recovery rating of RR3.

EG Global is a finance vehicle for EG Group Ltd. The new notes will rank equally with all the group’s senior secured debt.

The notes will help finance EG’s $2.19 billion acquisition of Cumberland Farms, Inc., which has a portfolio of 563 gas stations and convenience stores. This acquisition increases EG’s U.S. footprint, making the group the fifth-largest US independent convenience store operator, Fitch said.

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