Imperial Capital Advises Pegasus Solutions, Inc. in Successful Debt Restructuring
LOS ANGELES, CA--(Marketwire - January 29, 2010) - Imperial Capital announced the
closing of the exchange offer and comprehensive restructuring of Pegasus
Solutions, Inc. ("Pegasus" or "the Company"), a global leader in providing
technology and services to hotels and travel distributors. Imperial
Capital acted as exclusive financial advisor to Pegasus.
"Imperial Capital provided excellent advice and guidance through their
expertise in restructuring negotiations and execution," said Pegasus CFO,
Mark S. Dubrow. "We believe the successful refinancing of our notes is
another indicator of the confidence our syndicated lenders and bondholders
have in Pegasus Solutions' business model, financial stability and
management team."
"Imperial Capital's Restructuring Advisory Group is dedicated to providing clients
creative solutions to complex transactions," said Jason Reese,
Chairman and Chief Executive Officer of Imperial Capital.
About Imperial Capital, LLC
Imperial Capital, founded in 1997, is a full-service investment banking
firm with offices in Los Angeles, New York, San Francisco, Boston, Houston
and Minneapolis. The firm currently employs over 170 professionals and
offers a wide range of proprietary products and services to institutional
investors, middle market companies, and private equity firms. Imperial
Capital provides institutional clients research and sales and trading of
high yield and distressed debt securities, bank debt, convertible bonds,
preferred stocks, and equities. The firm provides middle market companies
and financial sponsors with capital markets, merger and acquisitions,
capital structure, restructuring and recapitalization advisory services.
More information about Imperial Capital can be found at
www.imperialcapital.com.
About Pegasus Solutions, Inc.
Pegasus Solutions is the world's leading provider of technology and
services to hotels and travel distributors, supplying state-of-the-art
central reservation systems and electronic distribution services, advanced
agency commission processing and payment services, and hotel marketing
representation services. Founded in 1989, Pegasus created and launched the
hotel switch, and today its customers include more than 95,000 properties
around the globe as well as a majority of the world's travel agencies.
Additionally, Pegasus' powerful representation arm incorporates Utell®
Hotels & Resorts and Utell Connect, services that have been chosen by
nearly 11,000 member hotels in more than 130 countries, making Pegasus the
hotel industry's largest third-party marketing, sales and reservations
specialist. Pegasus also powers the niche consumer Web site
www.hotelbook.com™, dedicated to promoting independent and boutique
hotels throughout the world. Headquartered in Dallas, Pegasus has 18
offices in 11 countries, including regional hubs in London, Singapore and
Scottsdale, Arizona. For more information, please visit www.pegs.com or
www.utell.com.
Contact Information: For more information regarding Imperial Capital or this transaction, please
contact:
Press:
Anna Halloran Jacob
Imperial Capital, LLC
(310) 246-3675
ahalloranjacob@imperialcapital.com