The voluntary repurchase and early redemption offer of an issue of guaranteed senior bonds in the amount of 400 million euros made by NH Hotel Group, due to the change of control in the company following the Minor Bid, has only received requests for 3 , 15 million euros, 0.8% of the total amount.
The hotel group reported Thursday to the National Securities Market Commission (CNMV) that the repurchase offer will be settled next Monday, November 12, the date on which the company will pay the bondholders who have accepted the offer 3.194 .950.50 euros.
This amount includes interest accrued and not paid since the last interest payment until the settlement date, amounting to 13,450.50 euros.
NH Hotel Group had offered to amortize in advance an issue of senior bonds amounting to 400 million euros, maturing in 2023 and negotiated in the Euro MTF market of the Luxembourg Stock Exchange, at the option of the holders who wish it, as a result of the change of control in the chain after the OPA of Minor, which holds 94.13% of the capital.
NH made a bond issue in 2016 that was extended in 2017 by a value of 400 million euros, due in 2023, which included the aforementioned clause by which the chain must offer the possibility of repurchasing and early amortization of the issue in case of change of control in the company, which has occurred effectively after the conclusion of the Minor OPA.
The hotel has a cash available of more than 250 million euros and a line of credit of another 250 million euros to dispose of it in case of need, remember from the hotel chain.