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Travel food group SSP plans to raise 475 mln pounds

March 17 (Reuters) - SSP said it expects to raise 475 million pounds ($660.63 million) through a rights issue as the Upper Crust owner braces for a prolonged downturn in the travel industry, predicting like-for-like revenue to not return to pre-pandemic levels before 2024.

The travel food group on Wednesday also set out other actions to bolster its balance sheet, including the extension of bank facilities that were due to mature in July 2022 to January 2024, and waivers of existing covenants. ($1 = 0.7190 pounds) (Reporting by Muvija M in Bengaluru; Editing by Devika Syamnath)

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