OREANDA-NEWS. Fitch Ratings says UAB Bite Lietuva's (Bite) planned sale of Bite Finance International BV to Providence Equity Partners will trigger the change of control clause in Bite's certain debt facilities.

Fitch expects that Bite's senior secured floating rate notes due 2018 and the revolving credit facility (RCF), which are subject to change of control clauses, would be respectively repurchased upon the completion of the sale and repaid. The impact on Bite's IDR (B-/Stable) will be assessed as more information on the deal structure and conditions become available.

Bite agreed the sale with Mid Europa Partners and Providence Equity Partners for the sale of to Providence. The company says that the deal is expected to complete in 1Q16 and is subject to certain closing conditions.