Refinancing of Park Plaza London Riverbank

Summary by AI BETAClose X

PPHE Hotel Group has successfully refinanced its £95.8 million loan for the Park Plaza London Riverbank, extending the maturity date from June 2026 to June 2030. The facility will maintain a 3.248% fixed interest rate until June 2026, after which 85% will transition to a 5.72% fixed rate, with the remainder on a floating rate, and will no longer be subject to amortization. This non-recourse refinancing, secured by a mortgage over the hotel, aims to maintain a strong relationship with Aareal Bank AG and leverage the asset's stability.

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