DLA Piper advises on the €400 m refinancing of Minor Hotels
DLA Piper has advised a syndicate of financial institutions coordinated by BBVA, CaixaBank and Banco de Sabadell on the granting of financing to Minor Hotels Europe & Americas (formerly NH Hotel Group). The transaction aims to refinance Minor Hotels’ senior debt maturing in July 2026, as well as to grant a revolving credit facility.
The financing, totalling €400 million, was structured in two tranches (both with green loan provisions), comprising a loan of €200 million and a a revolving credit facility of €200 million.
The funds will support Minor Hotels’ sites in Spain, Belgium, the Netherlands and Italy.
Led from DLA Piper’s Madrid office, the multidisciplinary team advised on the negotiation of the term sheet and the release of prior guarantees. The firm team was led by Jesús Zapata, partner in the firm’s Finance practice, and Country Managing Partner, Spain . He was supported by a cross-border and practice team including. He was supported by a cross-border team of partners including José Marco, partner in Finance in Spain; Lex Oosterling, partner in Finance in Amsterdam; Caroline Hoste, partner in Finance in Brussels; and Giovanni Ragnoni and Claudio D’Alia, respectively partner and legal director of Finance in Italy. The team also included counsels Nerea Cemlyn-Jones, in the Finance practice in Spain, and María Alonso, in the Tax practice in Spain; senior associate Antonio Olarte, also in Finance in Spain; and associates Ángel Ansorena and Víctor Sanjuan, likewise in Finance in Spain.
