The subsidiary of the Sani/Ikos Group, Sani/Ikos Financial Holdings 1 S, proceeded on Friday with the successful issuance of a bond, amounting to 350 million euros, due in 2030 and with an annual interest rate of 7.250%, which will be issued at 100% of its nominal value. .à rl
In the successful issuance of a bond, amounting to 350 million euros, expiring in 2030 and annual interest rate 7.250%which will be issued at 100% of its face value went ahead on Friday the subsidiary of Sani/Ikos GroupSani/Ikos Financial Holdings 1 S.à rl
The issuance of the bond it was oversubscribed by three times by leading domestic and foreign institutional investorswhich reflects the confidence of the international markets in the development prospects of the Sani/Ikos Group, as emphasized in a related announcement.
The issue of the bond will be completed around July 26, 2024 and subject to customary closing conditions. The proceeds from the bond issue will be used to fully repay the Group’s existing 5⅝% bonds maturing in 2026, to cover transaction costs and expenses and general corporate purposes.
The issuance of the bonds was undertaken by Morgan Stanley & Co. International plc and Deutsche Bank Aktiengesellschaft as main underwriters, in collaboration with Eurobank, Piraeus Bank, Alpha Bank and National Bank as Co-Managers.
The Sani/Ikos Group operates 12 privately owned luxury resorts in Halkidiki, Corfu and Kos in Greece, as well as Andalusia and Mallorca in Spain, with three more hotel complexes in development in Greece, Spain and Portugal.
Source: Skai
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