Irish hotel operator Dalata has successfully completed a major refinancing deal, securing new debt facilities worth €600 million.
Dalata has upgraded its prior loan agreement, replacing it with a €100 million green term loan and a €375 million revolving credit facility that offers greater flexibility.
"We are delighted to announce the successful completion of our refinancing. This increases our debt capacity to €600m, diversifies our funding sources and enhances the flexibility under the agreements."
Carol Phelan
Funding Future Growth
The introduction of these new lending facilities will provide Dalata with a substantial boost in terms of liquidity and financial flexibility, ultimately empowering the company to pursue its ambitious expansion plans.
The deal demonstrates confidence in Dalata's performance, with strong demand for the refinancing showing that investors believe in the company's future prospects.
The hotel operator's initial private placement deal has been concluded, featuring the issuance of €125 million in senior secured notes with a maturity period ranging from five to seven years.
Strengthening Financial Position
By securing new debt facilities worth €600 million, Dalata's financial position is now more robust than ever before, providing the company with a significant degree of flexibility to execute on its ambitious growth plans.
The company's decision to expand its funding base has resulted in a significant reduction of its reliance on conventional banking relationships.
The expanded banking syndicate, now encompassing NatWest, reflects the trust and optimism held by Dalata's partners regarding its potential for growth and development in the years to come.
Enhanced Financial Flexibility
The new lending facilities will grant Dalata the necessary resources to consistently deliver on its growth objectives, with a considerable increase in debt capacity and enhanced financial agility.
Equipped with a solid balance sheet and significantly increased liquidity, Dalata is well-equipped to drive forward its strategic plans for expansion and ultimately achieve its challenging yet ambitious growth targets.