Host Property AB, has sold 51% of its shares to Gelba Fastigheter, keeping 49% ownership in a partnership with a portfolio of eight Swedish hotels.
The company’s bond loans have been refinanced, reports Colliers, the financial advisor to Host Property AB in connection with the transaction.
The portfolio consists of eight regional Swedish First Hotels, with 967 rooms and a letting area of around 75,000 square metres. Four hotels are in southern Sweden, while the remaining four are in the northern region from Sundsvall to Örnsköldsvik. Several of these properties hold significant potential for development.
The transaction is expected to close on 18 December 2023. Once that happens, Host Property AB wlll
redeem all of the outstanding bonds issued under the Company’s SEK 331,808,000 senior secured and guaranteed floating rate bonds/
The Bonds will be redeemed at a price equal to 104.50% of the Nominal Amount together with accrued but unpaid Interest. A conditional notice of redemption will shortly be distributed to the Bondholders and the Bond Trustee.
