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Thursday, February 22, 2024

GA_P helps COFIDES grant €10m loan to MLL Hotels

GA_P has counselled COFIDES on the granting of €10 million loan to MLL Best Hotels Management, through a participating loan of €7.5 million and an ordinary loan of €2.5 million

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MLL Hotels is a 100% Mallorcan holiday hotel chain founded in 2004 in Platja de Palma, Mallorca. MLL Hotels currently has 5 establishments and more than 1,800 rooms. The establishments are operated under two different and complementary brands, MLL Hotels and Indico Rock Hotel.

COFIDES’ Technical Investment Committee of the Fund for the Recapitalisation of companies affected by Covid-19 (Fonrec) gave the ‘green light’ on Monday to these and other funding requests.

The transaction, a participating loan of €7.5 million and an ordinary loan of €2.5 million, has been advised by Afi on the Financial matters, and Gómez-Acebo & Pombo on Legal matters. The company has been advised by Álvarez & Marsal.

GA_P´s team was led by partner and head of the firm´s Public Law and Regulatory area Carlos Vázquez, Banking and Finance partner and head of the frim´s Vigo office María García de la Concha, Banking and Finance lawyer Lyda Nicolas and Employment lawyer Jesús Manuel Luis Carrasco.

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