Edition:
United States

NH Hotel Group SA (NHH.MC)

NHH.MC on Madrid SE C.A.T.S.

4.30EUR
24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

NH Hotels intends to issue up to 115.0 mln euros in notes for debt refinancing
Friday, 24 Mar 2017 04:00am EDT 

NH Hotel Group SA : Intends to issue simple senior secured notes totalling up to 115.0 million euros ($124.0 million), due 2023, with an annual interest of 3.75 percent .Says with the new issue and available cash intends to refinance 150.0 million euros of nominal aggregate amount of the senior secured notes due 2019, with an annual coupon of 6.875 percent.  Full Article

NH Hotels considers new senior secured notes issue to refinance debt
Monday, 20 Mar 2017 03:33am EDT 

NH Hotels Group SA : Sees to launch new notes issue, to run a partial refinancing of its 2013 notes . To issue 3.750 percent senior secured notes due in 2023 on the same terms as its 285 million euros issue from Sept. 2016 . Sees to refinance 150 million euros of the 250 million euros of senior secured notes due in 2019 with 6.875 percent interest .To offer 107.9 percent of the face value plus accrued and unpaid interest for the 150 million euros part of the issue due in 2019.  Full Article

NH Hotels reports 5.7 pct growth in FY revenue, proposes dividend
Tuesday, 28 Feb 2017 12:24pm EST 

NH Hotel Group SA : FY revenue 1.47 billion euros ($1.56 billion) versus 1.40 billion euros year ago . FY recurring net profit 11.5 million euros versus loss 2.7 million euros year ago . FY EBITDA excluding one-offs 180.9 million euros versus 149.5 million euros year ago . To propose first dividend since 2008 of 0.05 euros gross per share . Sees FY 2017 EBITDA at about 220 million euros - 225 million euros . Sees FY 2017 net financial debt to recurring EBITDA ratio at 3.0-3.25x . Sees cost savings of 7 million to 8 million euros a year in 2017 .FY REVPAR (revenue per available room) up 5.8 percent at 62 euros versus year ago.  Full Article

China's HNA Group lowers stake in NH Hotels to avoid mandatory takeover bid
Tuesday, 28 Feb 2017 05:23am EST 

HNA Group Co Ltd: Said on Monday it sold 541,931 shares of NH Hotels to avoid launching a mandatory takeover bid .After the sale, holds via Tangla Spain 102.8 million shares of NH Hotels, representing 29.34 percent of capital and 29.98 percent of voting rights in NH Hotels.  Full Article

NH Hotels proposes Ramon Aragones Marin as new CEO
Wednesday, 25 Jan 2017 08:46am EST 

NH Hotel Group SA :Board of Directors proposes nomination of its previous Executive Managing Director of Business & Operations Ramon Aragones Marin as new chief executive officer (CEO) to the general meeting.  Full Article

NH Hotel's new deal with Gihsa to bring around 7.2 mln euros in 2017
Monday, 5 Dec 2016 07:51am EST 

NH Hotel Group SA : Says new deal with Grupo Inversor Hesperia (Gihsa) to bring in 2017 around 7.2 million euros ($7.7 million) . To rebrand urban hotels of Gihsa to NH brand .To pay 31 million euros for early termination of current contract with Gihsa.  Full Article

NH Hotels to enter a new hotel management framework deal with Gihsa
Monday, 5 Dec 2016 02:40am EST 

NH Hotels Group SA : Says signs letter of intent with Grupo Inversor Hesperia (Gihsa) to establish a new framework agreement to manage 28 hotels of Gihsa . Says to pay Gihsa 31 million euros ($39 million) for the deal .Deal includes initial payment of 11 million euros plus two payments of 10 million euros over the next two years.  Full Article

NH Hotel Group 9-month recurring net result turns to profit of 4.5 mln euros
Wednesday, 16 Nov 2016 01:31am EST 

NH Hotel Group SA : Reported on Tuesday 9-month recurring net profit of 4.5 million euros ($4.8 million) versus loss 7.7 million euros year ago . 9-month EBITDA before onerous 124.6 million euros versus 97.9 million euros year ago . 9-month revenue 1.10 billion euros versus 1.03 billion euros year ago . 9-month RevPar at 62.0 euros, up 6.3 percent year on year .9-month occupancy rate at 68.7 percent, up 1.0 percent year on year.  Full Article

NH Hotels prices bonds for 285 mln euros at 3.750 pct
Friday, 30 Sep 2016 01:27am EDT 

NH Hotel Group SA : Said on Thursday closed the issue of senior secured bonds due in 2023 for 285 million euros ($319.7 million) offering a fixed coupon of 3.750 percent .Fulfils conditions to obtain a syndicated, long term, revolving credit of 250 million euros.  Full Article

NH Hotels says court denies precautionary measure filed by Tangla Spain
Thursday, 29 Sep 2016 02:15am EDT 

NH Hotel Group SA :Says commercial court denies precautionary measures filed by Tangla Spain (HNA) regarding points 9 to 12 and 14 to 18 adopted by NH Hotel's general shareholders meeting on June 21 [nL8N19D55I].  Full Article

More From Around the Web

Fitch Revises NH Hotel Outlook to Positive; Affirms IDR at 'B'

(The following statement was released by the rating agency) LONDON, March 24 (Fitch) Fitch Ratings has revised NH Hotel Group S.A's. (NH) Outlook to Positive from Stable, while affirming its Long-Term Issuer Default Rating (IDR) at 'B'. Fitch has also affirmed NH's 2019 and 2023 senior secured notes at 'BB-' with a Recovery Rating 'RR2.' The planned EUR115 million 2023 bond tap issue is neutral to future bond recovery expectations. The change in the outlook to Positive reflects the company'