Julius Meinl Living Successfully Issues New 5-Year Bonds

Julius Meinl Living has concluded the exchange offer for its existing bonds and issued new 5-year bonds. This enables the group to focus on growth in the luxury hospitality market. The exchange offer, announced on 23 May 2024, pertains to EUR 30 million of 2019/2024 bonds.

The new bonds, part of a EUR 300 million EMTN programme, have a coupon of 7.0% p.a., payable semi-annually, and a 5-year tenor. They will be redeemed at maturity at 120% of the principal amount. A total of EUR 25 million in new bonds will be issued on 11 July 2024.

Proceeds from the new bonds and other resources will fund the redemption of the existing bonds maturing in September 2024. The group will also benefit from ongoing shareholder support and banking partnerships to develop the historic Hotel Ambasador in Bucharest, set to open in 2027.

The Julius Meinl Living group is reviewing various projects in major European cities, reflecting its commitment to expansion in the luxury hospitality sector.