The Sani/Ikos Group, Mediterranean hotel group leader in the luxury tourism sector, announces that its subsidiary, Sani/Ikos Financial Holdings 1 S.à rl, proceeded on Friday, July 19, with the successful bond issuanceworth 350 million euros, maturing in 2030 and with an annual interest rate of 7.250%, which will be issued at 100% of its nominal value. The bond issue was oversubscribed three times by major national and foreign institutional investors, reflecting the confidence of international markets in the development prospects of the Sani/Ikos Group.
It will be completed around July 26th
The bond issuance will close on or about 26 July 2024 and is subject to customary closing conditions. The proceeds from the bond issuance will be used to repay in full the Group’s existing 5⅝% bonds due 2026, to cover transaction costs and expenses and for general corporate purposes.
The bonds were issued by Morgan Stanley & Co. International plc and Deutsche Bank Aktiengesellschaft as lead underwriters, in collaboration with Eurobank, Piraeus Bank, Alpha Bank and National Bank as co-managers.
The Sani/Ikos Group operates 12 private luxury resorts in Halkidiki, Corfu and Kos in Greece, as well as in Andalusia and Mallorca in Spain, while three more hotel complexes are under development in Greece, Spain and Portugal.