Shearman And Sterling

News July 11, 2018

Radisson's €250 Million Notes Offering and Entry Into a €20 Million Revolving Credit Facility

Shearman & Sterling advised J.P. Morgan Securities plc as sole bookrunner on Radisson’s offering of €250 million 6.875% senior secured notes due 2023. The firm also advised J.P. Morgan as mandated lead arranger in connection with a new €20 million revolving credit facility made available to Radisson.

The net proceeds of the offering will be used (i) to repay outstanding borrowings under certain existing facilities, (ii) for general corporate purposes, including funding Radisson's five-year operating plan, further investments and providing a liquidity buffer, and (iii) to pay the costs, fees and expenses in connection with the offering and refinancing.

Radisson Hotel Group is the 12th-largest hotel group in the world. Through a master franchise agreement with Radisson Hospitality, Inc. USA, Radisson Hospitality operates and develops Radisson Collection, Radisson Blu, Radisson, Radisson RED and Park Inn by Radisson across Europe, the Middle East and Africa (EMEA). As of March 31, 2018, Radisson Hospitality operated a portfolio of 374 hotels with more than 82,400 rooms, and 104 hotels with more than 23,700 rooms under development, in 78 countries across EMEA.

The Shearman & Sterling team was supported by associates Daniel Kachmar (Washington D.C.-Tax) and trainees Anna Ling, Charles Case and Jessica Stanion.

The Team