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BIGNON LEBRAY and Diametis advise on the high-yield bond issuance and 535 million euro refinancing of the NH Hotel Group

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BIGNON LEBRAY and Diametis have advised the NH Hotel Group on its global refinancing.

BIGNON LEBRAY and Diametis advised NH Hotels on the French legal aspects of the transaction. The hospitality group owns more than 400 hotels, with more than 60,000 hotel rooms in 22 countries across Europe, Latin America, and Africa.

NH Hotels is currently ranked third in the European rankings for business hotels.

The 535 million euro refinancing of the NH Hotel Group was composed of the following:

• A 285 million euro bond issuance. The bonds were issued on 29 september 2016 at an interest rate of 3.750 % and are due to reach maturity in 2023. They will be sold in accordance with Rule 144 A in application of the amended US Securities Act of 1933. The bonds will be listed on Euro MTF at the Luxemburg stock exchange.

• A 250 million euro loan agreement.

BIGNON LEBRAY advised on the corporate and tax law aspects of the transaction.

Diametis advised on the banking and capital market aspects of the transaction.

The legal team was managed by Florence Dedieu and included, from BIGNON LEBRAY, Florence Dedieu (partner, business law), Emmanuel Du Douet (partner, tax law) and Fanny Esnée (senior associate) and from Diametis Jean-Pascal Brun (partner).