Linklaters advises Cheyne Capital on €137.5M financing
Linklaters has advised Cheyne Capital on a €137.5M financing to Arab Bank Switzerland. The financing was used to fund the acquisition by Arab Bank Switzerland, for subsequent refurbishment, of two historic palaces in Chiado, Lisbon, which were sold by US-based Cerberus Capital Management. The project entails the conversion of the buildings into a development of approximately 24,000 sqm, comprising a five-star luxury hotel and branded residence serviced apartments.
According to Linklaters, this transaction stands out as “one of the most significant financing deals for the acquisition and redevelopment of real estate assets in Portugal”. The deal represents an important milestone in Cheyne Capital’s investment strategy.
The Linklaters team was led by Gonçalo Veiga de Macedo, partner in the Finance, Energy & Infrastructure practice, with support from Maria José Leite, managing associate in the same practice, Verónica Nobre, associate in the Corporate/Real Estate practice, and Francisca Costa, junior associate.
The transaction also involved a broader multidisciplinary Linklaters team across the Lisbon, Madrid, London and Luxembourg offices, as well as the collaboration of a Swiss law firm.
Pictured, from left to right, Gonçalo Veiga de Macedo, Maria José Leite, Verónica Nobre, and Francisca Costa.
