Dalata Hotel Group has finalised a €600m refinancing to help fuel its continued growth.
The group – which owns and operates the Clayton and Maldron hotel brands across Ireland, the UK, the Netherlands and Germany – has refinanced its existing debt facilities and added further liquidity to its capital structure, which will fund its growth.
The refinancing includes a €100m green term loan and an inaugural private placement of €125m green loan notes.
The group’s existing banking syndicate, AIB, Bank of Ireland, Barclays Bank and HSBC Bank has been joined by NatWest. The private placement noteholders are high quality institutional debt investors.
Carol Phelan, CFO, Dalata said: “We are delighted to announce the successful completion of our refinancing. This increases our debt capacity to €600 million, diversifies our funding sources and enhances the flexibility under the agreements. As part of the refinancing, we are very pleased to have also secured our inaugural private placement on attractive terms demonstrating the credit quality of the Group. Our strategic focus on growing a sustainable business has been illustrated by the green term loan and private placement. These New Facilities reflect the confidence of our partners, further enhance the Group’s strong balance sheet and enable us to continue to deliver on our ambitious growth strategy”.
