Deutsche Bank and Tyndaris have provided an €80 mln, five-year loan to refinance the 5-Star 184 room resort Borgo Egnazia, located in Puglia, Italy.
The loan was provided by way of a private securitisation with Deutsche Bank holding the €60 mln A-note and Tyndaris holding the €15 mln B-note. Deutsche Bank also retains an additional 5% economic interest in the whole loan for regulatory purposes.
Borgo Egnazia includes 155 rooms, 29 villas, a cooking school, beach club and the 18-hole San Domenico Golf Course. It opened in 2010.
The deal marks Tyndaris' first investment in Italy, while Deutsche Bank is already an active lender in the country.
