Statement re Refinancing

RNS Number : 3968G

Dalata Hotel Group PLC

05 November 2018

 

Dalata Hotel Group Announces New Debt Facilities 

ISE: DHG    LSE: DAL

Dublin, 5 November 2018 | Dalata Hotel Group plc ("Dalata" or "the Company") is pleased to announce that it has successfully agreed a new €525 million debt facility, completing the refinance of its existing debt facilities. The new facilities, made up of a term loan facility of £176.5 million and a multi-currency revolving credit facility of €325 million, have a five year term expiring in November 2023 and replace the existing term loan (approximately €300 million) and revolving credit facilities of €190 million which were due to mature in February 2020.

The existing facilities were provided at different intervals since February 2015 by a banking group comprising of AIB Bank, Bank of Ireland, Barclays Bank and Ulster Bank. This group has been joined by HSBC Bank and Banco de Sabadell in providing these new facilities. Deloitte acted as Debt Advisor for the Company.

Dermot Crowley, Deputy CEO - Business Development & Finance, said:

"We are delighted to have secured new facilities out to October 2023. Our banking group have been very supportive of our growth ambitions since we first drew down facilities in February 2015. I am very pleased that HSBC and Banco de Sabadell have now joined our group and it demonstrates the growing attraction of Dalata to international lending institutions. The terms of the new facilities reflect the increased strength of the balance sheet since 2015. These new facilities will help support the continued growth of our business, reduce our financing costs as well as extending the maturity of our debt". 

ENDS

About Dalata

Dalata Hotel Group plc is Ireland's largest hotel operator with a growing presence in the United Kingdom. The Group's current portfolio consists of 39 hotels with over 8,200 rooms. Dalata successfully operates Ireland's two largest hotel brands, Clayton Hotels and Maldron Hotels across Ireland and the UK, as well as managing a small portfolio of partner properties. 28 of the hotels are owned by Dalata, nine hotels are operated under lease agreements and two are operated under management agreements. For the half year 2018, Dalata reported revenue of €180.6 million and a profit after tax of €30.5 million. Dalata is listed on the Main Market of the Euronext Dublin (DHG) and the London Stock Exchange (DAL).

For further information visit: www.dalatahotelgroup.com

Contacts

Dalata Hotel Group plc	Tel [phone]
Pat McCann, CEO	[e-mail]
Dermot Crowley, Deputy CEO, Business Development & Finance
Sean McKeon, Company Secretary and Head of Risk and Compliance
Joint Company Brokers
Davy: Anthony Farrell	Tel [phone]
Berenberg: Ben Wright	Tel [phone]
Investor Relations and PR HTMLPIPESYMBOL FTI Consulting	Tel [phone]
Melanie Farrell	[e-mail]

 

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