Wolf Theiss advises Ingrid Hotels S.p.A. on the inclusion of corporate bonds in trading in the third market of the Vienna stock exchange

Ingrid Hotels S.p.A., an Italian hospitality company, has successfully placed new corporate bonds in the aggregate principal amount of EUR 337,000,000 on 6 December 2018. The notes were purchased by certain affiliates of Blackstone Real Estate Debt Strategies. The transaction is one of the largest debt finance deals ever completed by an alternative lender in the Italian real estate market. The bonds have been included in trading on the Third Market (Dritter Markt) of the Vienna Stock Exchange being the exchange’s Multilateral Trading Facility.

Ingrid Hotels S.P.A. is an Italian company majority-owned by Värde Partners. Together with its subsidiaries located in France, Hungary and Czech Republic, Ingrid Hotels S.p.A. owns and manages the pan-European luxury hotel portfolio known as “Dedica Anthology”.

The inclusion in trading on the Third Market of the Vienna Stock Exchange was advised by a Wolf Theiss Debt Capital Markets Team led by Partner Alexander Haas and supported by Associate Nevena Skocic. Värde Partners and the issuer were supported in the transaction by Ashurst on the legal front and Jones Lang LaSalle as financial advisor. Clifford Chance was involved as initial note purchaser advisor.