• Park Plaza refinances three hotels

Park Plaza Hotels has refinanced three hotels which it operates and part owns in London, with Aareal Bank.

The £165m five-year term replaces a £195.0m facility – which had £181.9m outstanding – from Goldman Sachs International, which was due to mature in March 2013. Park Plaza and partner Elbit Imaging provided an equity injection of £16.6m in order to enable the borrowers to repay the balance.

See the full release here:

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