B&B Hotels completes new €100 million term loan; terms

B&B Hotels has allocated a new €100 million term loan that priced at E+550, with a 0% floor at 95.5, suggesting a yield of 6.71%. The deal was led by joint bookrunners Goldman Sachs and Morgan Stanley. The new covenant-lite loan will mature in July 2026, in line with the firm's existing facility. The loan comes alongside an €80 million equity injection from sponsor Goldman Sachs MDB, and together the funding will strengthen liquidity at the group. B&B has also agreed to a sale and lease-back of some property assets and is seeking a waiver from existing lenders. Replies on this process are due by March 9. Leverage was marketed on a run-rate basis at around 5.2x/6.1x (first-line/total) gross, based on EBITDA of roughly €180 million, according to sources. B&B Hotels operates in 11 European countries and Brazil, and focuses on the higher end of the budget sector. Terms: