Kingdom : Hotel Investments Successfully Completes Refinancing of EUR 350M Four Seasons Hotel George V Loan Facility Prince Alwaleed: “This transaction speaks to the property’s iconic status and to the underlying value it commands”

January 18, 2016

Kingdom Hotel Investments (KHI), a wholly owned division of the Saudi Arabian conglomerate Kingdom Holding Company (KHC) chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has successfully completed the refinancing of a senior bank loan facility backed by the Four Seasons Hotel George V, Paris.

A EUR 350 million loan facility was extended by a consortium of lenders consisting of Crédit Agricole Corporate and Investment Bank, Natixis Pfandbriefbank AG, and Société Générale Corporate and Investment Banking.

Crédit Agricole Corporate and Investment Bank, Natixis, and Société Générale Corporate and Investment Banking acted as co-lead arrangers while Crédit Agricole acted as facility and security agent. The transaction closed on October 16, 2015.

Prince Alwaleed commented, 'The Four Seasons Hotel George V has been repeatedly recognized as one of the best, if not the best, city hotels in the world. This debt refinancing transaction speaks to the property's iconic status and to the underlying value it commands today in the most prestigious hotel market in the world.' HRH added: 'France continues to be a critical area of focus for KHC foreign investment, and we are very pleased to be partnering with a consortium of French banks in this landmark deal.'

Characterized as a palace hotel, the Four Seasons Hotel George V, Paris redefines luxury in the City of Light. The hotel offers 244 spacious guestrooms and multiple world-class food and beverage outlets including the two-Michelin starred Le Cinq and the newly opened Le George.

The Four Seasons Hotel George V was ranked 'Best City Hotel Worldwide' and 'Best European City Hotel' in The Gallivanter's Guide for 11 years. It was awarded the 'Best Hotel in Europe' for the 5th consecutive year by British magazine Ultratravel.

Sarmad Zok, Chairman and CEO of KHI and Member of KHC's Board of Directors commented, 'The Four Seasons Hotel GV's market leadership position since its acquisition by Kingdom is underpinned by the product's superior quality and the exceptional performance by Four Seasons management.'

Prince Alwaleed acquired the George V in 1996 for $178 million. A two-year $125 million comprehensive renovation was started in 1997, and the hotel re-opened in 1999 under the management of Four Seasons Hotels & Resorts, reflecting the Prince's dedication to restore the glory of this iconic landmark. The hotel is currently in the midst of a EUR 50 million capital reinvestment program intended to bring further upgrades to its stately suites, F&B offering, spa, and meeting rooms.

For over two decades, KHI has been a leading player in the global hospitality industry, building shareholder value by acquiring, developing, actively asset managing and monetizing high-quality hospitality assets.

KHI is today considered one of the most diversified hospitality investors globally with major interests in industry-leading luxury hotel management companies Four Seasons Hotels and Resorts, FRHI Hotels & Resorts, and Mövenpick Hotels & Resorts, and a real estate portfolio comprising 19 hotels worldwide. These hotels include the Four Seasons Hotel George V in Paris, The Plaza in New York, The Savoy in London, Four Seasons Hotel Toronto, Four Seasons Residence Club Scottsdale and other leading real estate assets across the Middle East, Asia, and Africa.