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Puma Hotels in debt refinancing

The Puma Hotels leisure chain, which operates 20 luxury resorts across the UK, is to announce it has had to refinance its £332m of bank debts after suffering losses in the consumer downturn caused by the credit crunch. It is expected to say it negotiated an extended debt facility with Anglo Irish Bank – to the end of 2012. But, the chain will also say it has been able to raise £20m from investors to pay back some of the debt pile.