Travel technology giant Amadeus has refinanced its bank debt to obtain unsecured credit facilities of €2.7bn.
This includes a $900m four and a half year loan, a €1.2bn bridge loan for an initial period of year, a further €400m bridge loan to be repaid following the sale of Opodo, and a €200m revolving credit facility for the next two years.
Amadeus chief financial officer Ana de Pro said: “With this agreement we achieve one of the objectives set out in our long-term strategy, to strengthen the financial structure of the business through less expensive and more flexible debt."
Tuesday, May 17, 2011
Established by the famed Sarkies Brothers in 1885, the Eastern & Oriental (E&O) Hotel in Penang is the only hotel in the heart of the George Town UNESCO World Heritage Site that possesses prime sea frontage. Today, the luxurious 228 all-suite hotel stands as the grand dame of heritage hotels, its distinctive classic elegance and grace of service enhanced with time.
For more information, visit www.eohotels.com