A&O Hotels talks €300 million term loan B at Euribor plus 375-400 bps

By Sara Rosenberg

New York, Dec. 1 – A&O Hotels and Hostels (Alpha Group Sarl) launched on Friday its €300 million seven-year senior secured term loan B with price talk of Euribor plus 375 basis points to 400 bps with a 0% floor and an original issue discount of 99.5, according to a market source.

Barclays is the bookrunner and mandated lead arranger on the deal.

Commitments are due on Dec. 14, the source said.

Proceeds will be used to refinance existing debt, to upstream certain proceeds to the shareholders, to fund cash to the balance sheet for general corporate purposes and to pay associated fees and expenses.

A&O is a Berlin-based hybrid hostel/hotel company in Europe.

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