Cuatrecasas helps with Atitlan´s €15m loan to Room Mate

Cuatrecasas has advised Atitlan fund on the granting of a €15 million loan to Spanish hotel chain Room Mate

Valencian investment group Atitlan has granted a €15 million loan to the Kike Sarasola´s Room Mate hotel chain. The loan, with a repayment period of one year, represents an alternative financing channel to banking that will allow the hotel group to wait for the arrival of the SEPI rescue funds, something that could take some months.

The Spanish hotel chain formally requested in March € 50 million from the Solvency Support Fund for Strategic Companies managed by SEPI. Sociedad Estatal de Participaciones Industriales (SEPI) is a Spanish state holding company that is characterised as a sovereign wealth fund and is controlled by the Ministry of Finance.

Atitlan is an investment group focused mainly on Spain and Portugal founded in 2005 that has invested so faro ver €800 million, focused on creating and consolidating long-term value deals across many industries.

Cuatrecasas acted as lead counsel in this direct lending transaction with multiple jurisdictions: Italy (Chiomenti), the Netherlands and Luxembourg (Loyens Loeff). Cuatrecasas´ team was led by Finance partner and head of the London office Ignacio Buil (pictured) and Finance senior associate Francisco Marzá and included lawyers Javier Segura, Julene Areitio, Lourdes Menéndez and Manuel Atencia.