Belmond finalizes €148.5 million term loan at Euribor plus 300 bps

By Sara Rosenberg

New York, May 28 – Belmond Interfin Ltd. wrapped syndication of the repricing of its €148.5 million term loan due March 21, 2021 at talk of Euribor plus 300 basis points with a 1% floor and a par issue price, according to a market source.

The repricing is taking pricing on the loan down from Euribor plus 325 bps with a 1% floor.

With the repricing, the company is resetting the 101 soft call protection for six months on the euro term loan, as well as on its roughly $341.6 million U.S. term loan due March 21, 2021.

The U.S. term loan is not being repriced from its current Libor plus 300 bps with a 1% Libor floor rate.

Barclays is the administrative agent on the deal.

Belmond is a London-based owner and operator of luxury hotels, restaurants, tourist train and river cruise properties.

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