Orient-Express gets €185 million amended and restated credit facility

By Sara Rosenberg

New York, Aug. 6 - Orient-Express Hotels Ltd. amended and restated its credit facility, increasing the size to €185 million from €150 million and setting pricing on the €35 million of incremental debt at Euribor plus 500 basis points, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The other €150 million of debt remained priced at Euribor plus 250 bps.

The incremental debt will be drawn in September to repay a €36.8 million loan.

In addition, the amendment added security by way of mortgages on Grand Hotel Timeo and Villa Sant'Andrea, both in Taormina, Italy.

Credit Agricole Corporate and Investment Bank is the agent on the deal.

The amendment and restatement was completed on Aug. 1.

Orient-Express is a Hamilton, Bermuda-based luxury hotel company and adventure travel operator.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.