• Orient-Express agrees refinancing

Orient-Express Hotels has agreed a Eu150m refinancing of four Italian hotels, including the Hotel Cipriani in Venice, with a syndicate of European banks led by Crédit Agricole CIB and Barclays Corporate.

Martin O’Grady, CFO, said: "This was a key refinancing for Orient-Express and we were pleased to assemble a club of commercially minded banks who completely understood the high quality and value of the underlying portfolio." The debt refinancing comes amid speculation that Von Essen Hotels is in talks with potential investors over a bid for Orient-Express’s European hotels.

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