P.F. Chang's Sells for $700M

Bloomberg is reporting that private equity firm Centerbridge Partners LP sold P.F. Chang's Chinese Bistro to TriArtisan Capital Partners LLC and Paulson & Co. Inc. for $700 million. The deal is expected to close during the first quarter of 2019. According to a  private notice sent to investors and seen by Bloomberg News, the company’s more than $675 million of total debt will be taken out at par.