Syndicated loans
In November 2013, a Group company and a group of eight financial institutions arranged a new syndicated loan of EUR 200,000 thousand with final maturity in
November 2017. This syndicated loan comprises two tranches:
•
Tranche A: taken out as a business loan of €133.333million, with €19.000millionmaturing on the first three annual anniversaries from the effective date onwhich
the syndicated loan was granted, and a final maturity on the fourth annual anniversary of €76.333 million.
•
Tranche B: taken out as revolving business credit of €66.667 million, maturing on the fourth annual anniversary from the effective date on which the loan was
granted.
In relation to this financing, the Group undertakes to fulfil a series of financial ratios measured on a six-monthly basis, on 30 June and 31 December. At 31 December
2013,
the aforesaid financial ratios had been fully achieved.
The guaranteed senior notes and the syndicated loan share first tier mortgage guarantees on NH Group hotels in Spain (NH Eurobuilding) and the Netherlands
(
NH Barbizon Palace, NH Amsterdam Centre, NH Conference Centre Leeuwenhorst, NH Conference Centre Koningshof, NH Schiphol Airport, NH Conference
Centre Sparrenhorst, NH Zoetermeer, NHNaarden, NH Capelle, NHGeldrop, NH Best and NHMarquette), pledging 100% of the shares in H.E.M. Diegem, B.V. and
Onroerend Gooed Beheer Maatschappij Van Alphenstraat Zandvoort, B.V., 89.3% of the shares in Sotogrande, S.A., and the joint guarantee payable on demand of the
Group’s main operating companies that are wholly owned by the Parent Company.
Mortgages
The detail of the mortgage loans and credit facilities is as follows (in thousands of euros):
Mortgaged asset
Fixed interest
Interest
Interest
Total
Net book value of mortgaged
assets
Spain
NH Lagasca
-
8,320
8,320
17,241
NH Príncipe de La Paz
-
3,502
3,502
2,229
NH Sotogrande
-
4,383
4,383
4,194
Resco
-
3,096
3,096
5,210
Total Spain
-
19,301
19,301
28,874
Mexico
NHQuerétaro
-
2,330
2,330
1,982
NH Santa Fe
-
2,822
2,822
2,855
Total Mexico
-
5,152
5,152
4,837
Netherlands
NHCarlton
-
625
625
74,089
NHGroningen
-
2,448
2,448
6,415
NHRotterdam
-
6,506
6,506
13,865
Total Netherlands
-
9,579
9,579
94,369
Germany
NH Leipzig Messe
7,365
-
7,365
13,281
NHBingen & Viernheim
5,837
-
5,837
10,523
NHAirport Raunheim
16,013
-
16,013
11,333
NHAukammWiesbaden
8,942
-
8,942
1,415
Total Germany
38,157
-
38,157
36,552
Italy
NHAncona, NH Palermo, NHCavalieri, NHRavenna,
NHVittorio Veneto
-
63,750
63,750
140,844
Donnafugata
-
34,473
34,473
51,990
NHTrieste
-
667
667
21,470
NHTorino Ambasciatori
-
1,875
1,875
16,009
NHMilanofiori y centro de convenciones
-
8,100
8,100
44,571
NHBellini
-
1,389
1,389
8,531
NHGenova
-
3,479
3,479
22,444
NHVilla SanMauro
-
3,075
3,075
1,708
Total Italy
-
116,808
116,808
307,567
Switzerland
NH Fribourg
4,488
-
4,488
8,856
Total Switzerland
4,488
-
4,488
8,856
Total
42,645
150,840
193,485
481,055
Assets granted as mortgage security against the syndicated loan of €200million and guaranteed senior notes of €250million, can be broken down as follows (thousands
of euros):
REPORT ONTHE CONSOLIDATED FINANCIAL STATEMENTS
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