Riyadh-Mubasher: Kingdom Hotel Investments (KHI), a wholly-owned subsidiary of Saudi Arabian conglomerate Kingdom Holding Co. (KHC), has successfully completed the refinancing of a senior bank loan facility worth 350 million euros backed by the Four Seasons Hotel George V, Paris.
The loan was extended by a consortium of lenders consisting of Crédit Agricole Corporate and Investment Bank, Natixis Pfandbriefbank AG, and Société Générale Corporate and Investment Banking.
Crédit Agricole Corporate and Investment Bank, Natixis, and Société Générale Corporate and Investment Banking acted as co-lead arrangers, while Crédit Agricole acted as facility and security agent. The transaction was closed on 16 October 2015.
“The Four Seasons Hotel has been repeatedly recognised as one of the best, if not the best, city hotels in the world. This debt refinancing transaction speaks to the property’s iconic status and to the underlying value it commands today in the most prestigious hotel market in the world,” said Chairman KHC Chairman Alwaleed bin Talal.
He added that France continues to be a critical area of focus for KHC foreign investment. “We are very pleased to be partnering with a consortium of French banks in this landmark deal.”
