Alantra acts as Coordinator and sole Bookrunner on Batle Group’s €30m bond issue

Sep 2017

Debt refinancing

Value €30 million

Alantra acted as coordinator and bookrunner for Batle Group, a hotel group specialized in the development and management of Resort Hotels, on the issuance of a €30mn seven-year senior secured bond.

The bond has a seven-year maturity with a 4% fixed coupon. The transaction has been executed through a private placement format with a subsequent listing in the Spanish Mid Cap bond market (MARF), involving a reduced number of investors with a buy & hold investment strategy.

Batle Group founded in 1956 in Spain, owns 12 hotels, 9 in Spain and 3 in the Dominican Republic. The company’s sales in 2016 amount to €128mn and €43mn EBITDA. The company is developing two new hotels in Mexico, which will be financed through the €30mn bond issuance (seven year maturity) in a combination with a $90mn bank syndicated facility (10 year maturity).