Grape Hospitality has announced that it has secured a €400 mln loan refinancing for a portfolio of 86 hotels it owns and operates in France and in six European countries.
The three-year syndicated financing is made up of several tranches; the main financing of €352 mln plus a credit line of €40 mln dedicated to capex investments and a VAT credit line of €7 mln.
Crédit Agricole CIB, Natixis CIB and Société Générale acted as co-arrangers.
‘This financing allows the Group, in a context of high interest rate volatility, to strengthen its financial structure and to have new investment capacity to support its growth,’ the company said.
