Dalata completes €525m debt refinancing

Clarion Hotel Liffey Valley Dalata

Hotels group Dalata has agreed a new €525m (£458.5m) debt facility, completing the refinancing of its existing debt facilities.

The new facilities, made up of a term loan facility of €176.5m and a multi-currency revolving credit facility of €325m, have a five year term expiring in November 2023 and replace the existing term loan of €300m and revolving credit facilities of €190m, which were due to mature in February 2020.

The existing facilities were provided at different intervals since February 2015 by a banking group comprising of AIB Bank, Bank of Ireland, Barclays Bank and Ulster Bank, all of which have signed up again to provide the new facilities. This group has been joined by HSBC Bank and Banco de Sabadell. Deloitte acted as debt advisor.

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