London – Alvarez & Marsal (A&M), the global independent professional services firm, has advised London-based Maybourne Hotel Group on its successfully completed planned refinancing. This has enabled the group to repay its £660 million loan facility and to continue to invest in its iconic London hotels - Claridge’s, The Connaught and The Berkeley.
Commenting on the transaction, Robin Priest, Managing Director, Real Estate Advisory Services at A&M, said:
“This refinancing provides an excellent foundation for the company's future. It has been a pleasure to work with the company, the board, the lenders and the advisory group to deliver this result. To have such a significant amount of property related debt raised in this challenging market and at such speed is testament to the quality of the assets and the continued close collaboration amongst those involved.”
Stephen Alden, CEO of Maybourne Hotel Group said: 
“We are delighted to have completed a complex refinancing in challenging market conditions. Our own team, the board, our advisers and the lending group have worked extremely hard – and in close collaboration - to achieve this excellent result. It places us in an ideal position to realize our capital investment strategy and thus to maintain our leadership among the world’s finest hotels.”
The five-year debt facilities were lead arranged by Blackstone Real Estate Debt Strategies (BREDS). BREDS worked closely with lead banks Bank of America Merrill Lynch (BAML) and the Royal Bank of Canada (RBC) who co-arranged and underwrote the £400 million senior facility, of which Wells Fargo took up to £100 million at close. A £147 million mezzanine loan was underwritten by Blackstone and funded in partnership with RBC and Starwood Capital.
 
About Alvarez & Marsal
Alvarez & Marsal (A&M) is a global professional services firm that is privately owned and operated by its worldwide partners. With more than 40 international locations, A&M blends together proven operating, industry and consulting experts who deliver hands-on leadership and rapid results, whether serving as trusted business advisors or in interim management roles. A&M has successfully extended its culture of relentless execution and operational excellence, pioneered since 1983 in restructuring, to healthy companies and organizations around the world.
From board rooms to shop floors, from publicly-listed to privately-held enterprises, A&M works with boards, management, investors and other stakeholders to tackle tough challenges with fact-based approaches, unlocking value at every stage of the corporate lifecycle. A&M’s breadth of services today spans operational performance improvement, turnaround and interim management, tax and business advisory services.  When action matters, find us at www.alvarezandmarsal.com.   
Follow A&M on LinkedIn, Facebook and Twitter.
 
About Maybourne Hotel Group
Maybourne Hotel Group whose headquarters is in Mayfair, London, owns and manages Claridge’s, The Connaught and The Berkeley three of the world’s most renowned hotels. Maybourne hotels are committed to delivering authentic and unique guest experiences that reflect the individual nature of its hotels, its guests and its people whilst maintaining a timeless elegance and intuitive service style that are the hallmarks of its properties.
www.maybourne.com

News Date: 
Friday, January 11, 2013
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Alvarez & Marsal Advises Maybourne Hotel Group on Debt Refinancing

January 11, 2013

London – Alvarez & Marsal (A&M), the global independent professional services firm, has advised London-based Maybourne Hotel Group on its successfully completed planned refinancing. This has enabled the group to repay its £660 million loan facility and to continue to invest in its iconic London hotels - Claridge’s, The Connaught and The Berkeley.

Commenting on the transaction, Robin Priest, Managing Director, Real Estate Advisory Services at A&M, said:

“This refinancing provides an excellent foundation for the company's future. It has been a pleasure to work with the company, the board, the lenders and the advisory group to deliver this result. To have such a significant amount of property related debt raised in this challenging market and at such speed is testament to the quality of the assets and the continued close collaboration amongst those involved.”

Stephen Alden, CEO of Maybourne Hotel Group said: 

“We are delighted to have completed a complex refinancing in challenging market conditions. Our own team, the board, our advisers and the lending group have worked extremely hard – and in close collaboration - to achieve this excellent result. It places us in an ideal position to realize our capital investment strategy and thus to maintain our leadership among the world’s finest hotels.”

The five-year debt facilities were lead arranged by Blackstone Real Estate Debt Strategies (BREDS). BREDS worked closely with lead banks Bank of America Merrill Lynch (BAML) and the Royal Bank of Canada (RBC) who co-arranged and underwrote the £400 million senior facility, of which Wells Fargo took up to £100 million at close. A £147 million mezzanine loan was underwritten by Blackstone and funded in partnership with RBC and Starwood Capital.

 

About Alvarez & Marsal

Alvarez & Marsal (A&M) is a global professional services firm that is privately owned and operated by its worldwide partners. With more than 40 international locations, A&M blends together proven operating, industry and consulting experts who deliver hands-on leadership and rapid results, whether serving as trusted business advisors or in interim management roles. A&M has successfully extended its culture of relentless execution and operational excellence, pioneered since 1983 in restructuring, to healthy companies and organizations around the world.

From board rooms to shop floors, from publicly-listed to privately-held enterprises, A&M works with boards, management, investors and other stakeholders to tackle tough challenges with fact-based approaches, unlocking value at every stage of the corporate lifecycle. A&M’s breadth of services today spans operational performance improvement, turnaround and interim management, tax and business advisory services.  When action matters, find us at www.alvarezandmarsal.com.   

Follow A&M on LinkedIn, Facebook and Twitter.

 

About Maybourne Hotel Group

Maybourne Hotel Group whose headquarters is in Mayfair, London, owns and manages Claridge’s, The Connaught and The Berkeley three of the world’s most renowned hotels. Maybourne hotels are committed to delivering authentic and unique guest experiences that reflect the individual nature of its hotels, its guests and its people whilst maintaining a timeless elegance and intuitive service style that are the hallmarks of its properties.

www.maybourne.com