DLA Piper has advised its long standing client the London-based Maybourne Hotel Group on its planned refinancing through the signing of a £547 million five year debt facility. The refinancing, arranged by Blackstone Real Estate Debt Strategies completed on 28 December and follows a successful rights issue of £145 million undertaken before Christmas.

The refinancing enabled the Group to repay a £660 million loan facility and now provides working capital for its iconic hotels; Claridge's, The Connaught and The Berkeley.

The transaction was led by Jo Owen, Toby Barker and Ed Griffiths and supported by a large multi-disciplinary team. Jo Owen, client partner for the Group said: "It is wonderful for our client to have completed such a complex deal against such trying market conditions. The refinancing will provide a stable platform for Maybourne Hotel Group to continue to invest in some of the world's finest hotels and we are delighted to have been part of the process."

http://www.dlapiper.com/dla-piper-advises-maybourne-hotel-group-on-refi…