DLA Piper advises on re-financing of large Spanish hotel group
DLA Piper has advised on the €750m (£620m) re-financing of NH Hoteles, a large Spanish hotel group and one of the top 25 hotel chains in the world.
The transaction was structured by means of several instruments including a €200m club deal, €250m high-yield bonds and €250m convertible bonds and involved 19 jurisdictions. DLA Piper acted as legal adviser for a syndicate of lenders under the club deal including Barclays, Deutsche Bank, BNP Paribas, Banco Santander, BBVA, Banco Espirito Santo, Banco Sabadell and Bankia.
The transaction was led by the finance and projects team in the firm’s Madrid office, working closely with DLA Piper offices in Belgium, the Netherlands, Germany, Austria, Mexico, Poland, the Czech Republic, Romania, Venezuela and France and with relationship firms in various other countries. The Madrid, Amsterdam and Brussels offices also acted on the creation of the security package for the high-yield bonds.
This complex deal implementing three different instruments at the same time was closed on a tight timeline, with the DLA Piper team being led by Jesús Zapata and Nerea Cemlyn-Jones.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
Corporate liability: the Italian Supreme Court extends the scope of application of Legislative Decree No. 231/2001
The Italian Supreme Court has reconsidered the possibility of applying Legislative Decree No. 231/2001 to the so-called target offences of a criminal organisation.
In autumn 2011, Thailand suffered severe floods. Among the properties damaged were shops and distribution centres owed by a subsidiary of Tesco.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions