We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Elegant Hotels Group Plc | LSE:EHG | London | Ordinary Share | GB00BWXSNY91 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 110.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMEHG
RNS Number : 5396C
Elegant Hotels Group PLC
18 June 2019
18 June 2019
Elegant Hotels Group plc
Successful completion of refinancing of loans and facilities
The Board of Elegant Hotels Group plc ("Elegant Hotels" or the "Group"), the owner and operator of seven upscale freehold hotels and a beachfront restaurant on the island of Barbados, can confirm that it has successfully refinanced all of its loans and facilities following the commitment from lenders announced in May 2019.
Prior to the refinancing, the Group's loans and facilities were due to expire in May 2020. These consisted of US$59.4m of term loans, US$5.0m of revolving credit facility, and a Bbds$20.0m (US$10.0m) overdraft facility.
As a result of the refinancing, the loans and facilities have been extended to 2024 at similar commercial terms to those currently in place: the Group now has US$64.4m of term loans consisting of US$59.4m and Bbds$10.0m (US$5.0m), and it also retains its Bbds$20.0m (US$10.0m) overdraft facility. The remaining repayment period of the term loans has been extended from 10 years to 15 years.
For further information:
Elegant Hotels Group plc
Sunil Chatrani, Chief Executive Officer +1 246 432 6500
Jeff Singleton, Chief Financial Officer
Liberum Capital Limited (NOMAD and Broker)
Clayton Bush / Chris Clarke / William Hall +44 (0) 203 100 2222
Powerscourt
Rob Greening / Lisa Kavanagh / Jana Tsiligiannis +44 (0) 207 250 1446
Email: eleganthotels@powerscourt-group.com
Notes to Editors:
Elegant Hotels owns and operates seven luxury freehold hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio currently comprises 588 rooms, making it twice as large (by room number) as the closest competitor in the Barbados luxury hotel room market. Six of the seven properties are situated along the prestigious west coast of Barbados commonly known as the "Platinum Coast". The properties are all freehold, with a total aggregate plot size of approximately 23 acres and an aggregate beachfront of 2,600 feet.
In the year ended 30 September 2018, the Group reported revenue of $62.9 million and EBITDA before non-recurring items of $19.7 million.
Together, the Group's seven existing hotels - Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach, Waves Hotel & Spa and Treasure Beach - offer styles encompassing classic and contemporary, family-friendly and adults-only. The Group also has a management contract for Hodges Bay Resort in Antigua and a sales and marketing contract for The Landings Resort & Spa in St. Lucia.
The Group's strategy is to leverage its position as a leading hotel operator in Barbados and to expand both on Barbados as well as further into the Caribbean.
Investor website: http://www.eleganthotelsgroup.com/
Commercial website: http://www.eleganthotels.com/
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
STRGMGMVGNKGLZZ
(END) Dow Jones Newswires
June 18, 2019 02:00 ET (06:00 GMT)
1 Year Elegant Hotels Chart |
1 Month Elegant Hotels Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions