We assisted the initial purchasers alongside Milbank LLP in relation to the debut offering by Sani/Ikos Financial Holdings 1 S.à r.l., a Luxembourg limited liability company, of EUR 300 million 5 5/8% senior secured notes due 2026.
Sani/Ikos is an innovative and rapidly growing group of five-star luxury hotels in Greece and Spain classified amongst the top luxury hotels in Europe and worldwide.
The proceeds of the offering will be used to fund general corporate purposes, to prepay a portion of Sani/Ikos’s outstanding debt, and to pay fees and expenses incurred in connection with the recently completed business combination of Sani Resort and Ikos Resorts and the offering.
The Loyens & Loeff team led by capital markets lawyers Cédric Raffoul (Partner), Sixtine Auguet (Associate) and Ignacio Jimenez Guardiola (Associate) with support of Willem Bon (Partner) and Nadège Le Gouellec (Counsel) for the tax aspects, drafted and negotiated the Luxembourg security package and a legal opinion, as well as negotiated and reviewed various notes documents such as the Offering Memoranda, the Purchase Agreement, the Notes Indenture and the Luxembourg corporate approvals in connection with the Luxembourg subsidiaries acting as security providers to the notes.
