September 8, 2011
Orient-Express Hotels Ltd. (NYSE: OEH,
) today announced that it has completed the refinancing of the Company's
loan on its Brazilian portfolio of properties, including the Copacabana Palace in
Rio de Janeiro
and Hotel das Cataratas at Iguassu Falls.
loan includes a
capital expenditure facility to assist with the planned refurbishment of the main building of the Copacabana Palace to take place during 2012. The new loan has a term of three years and an interest rate of LIBOR plus 3.15%. The prior
loan was due to mature in
, and represented the Company's only significant debt maturity in 2012.
Crédit Agricole CIB, HSBC Bank Bermuda Limited and Barclays Bank Plc acted as joint arrangers for the new financing.
About Orient-Express Hotels Ltd.
Orient-Express Hotels Ltd., listed on the New York Stock Exchange, ticker OEH, engages in the hotel, tourist train, restaurant and cruise ship business. Orient-Express Hotels owns and manages 49 famous properties in 24 countries, including Hotel Cipriani in
, Copacabana Palace in
Rio de Janeiro
and the Mount Nelson Hotel in
. In addition, it owns and operates the Venice Simplon-Orient-Express and Eastern & Oriental Express tourist trains, '21' Club in
New York City
and the Road To Mandalay cruise ship in
, Vice President, Chief Financial Officer Tel: +44-20-7921-4038 E:
, Director, Corporate Communications Tel: +44-20-7921-4067 E:
SOURCE Orient Express Hotels Ltd