California Pizza Kitchen Begins Marketing Loan for Refinancing

California Pizza Kitchen has launched a new loan to refinance debt it took on to fund its exit from bankruptcy last year, according to people with knowledge of the matter.

• The Los Angeles-based chain is working with Guggenheim to solicit term sheets for a senior secured loan of around $170 million, said the people, who asked not to be identified because the discussions are private
• Proceeds from the potential deal, along with roughly $60 million of cash, would help pay down the company’s debt, the people said.
  • Including paid-in-kind interest, CPK’s total debt is around $180 million, the people said ...