Maybourne Hotel Group to Refinance Debt

15th June 2010 (Last Updated June 15th, 2010 18:30)

Maybourne Hotel Group is in talks with Deutsche Bank to refinance more than £600m ($890m) of loans before the end of the year. The company, which owns the five-star Claridge's, Connaught and Berkeley hotels in London, UK, said it has no plans to sell. The company will be

Maybourne Hotel Group is in talks with Deutsche Bank to refinance more than £600m ($890m) of loans before the end of the year.

The company, which owns the five-star Claridge’s, Connaught and Berkeley hotels in London, UK, said it has no plans to sell.

The company will be at the mercy of its two banking creditors, Bank of Ireland and Anglo Irish Bank, if it does not secure the loans, reports guardian.co.uk.

The refinancing talks could also involve Barclays Bank.

Maybourne’s majority shareholders including Derek Quinlan and Paddy McKillen, a property developer prepared to inject additional equity if required.