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European Bank Syndicate Refinances Orient-Express Hotels’ Italian Portfolio

A group of European banks has refinanced four iconic luxury Italian hotels on behalf of Orient-Express Hotels Ltd. The properties include Hotel Cipriani in Venice, Hotel Caruso in Ravello, Villa San Michele in Florence and Hotel Splendido & Splendido Mare in Portofino.

Crédit Agricole CIB and Barclays Corporate acted as joint mandated lead arrangers and bookrunners for the €150 million financing. They were joined by Aareal Bank, BNL BNP PARIBAS Group and IntesaSanpaolo who acted as arrangers. Crédit Agricole CIB acted also as Facility Agent.

On behalf of Crédit Agricole CIB, Neal Ledger, Head of the UK Real Estate Finance team said: "The lenders are all delighted to have been chosen by Orient-Express to assist with the refinancing of these prestigious hotels. We look forward to working with Orient-Express to further expand our successful relationship together taking advantage of our international network." while Nicola Meles, Head of the Italian Real Estate Finance team for Crédit Agricole CIB, added “The outstanding quality of this portfolio of hotels has been confirmed by the successful involvement of leading Italian and International financial institutions”.

Tim Helliwell, Head of Hotel Finance, Barclays Corporate, said, “We are very proud to be working alongside a brand as iconic as Orient-Express Hotels. This is an excellent example of two global corporate banks working alongside a multinational corporate to structure a syndicated loan in one of their home markets, and it should provide an excellent platform for management to achieve their growth ambitions in Italy.”

Martin O'Grady, Chief Financial Officer, Orient-Express Hotels Ltd. said: "This was a key refinancing for Orient-Express and we were pleased to assemble a club of commercially minded banks who completely understood the high quality and value of the underlying portfolio."

Notes to editors

About Barclays Corporate

With a clear focus on quality relationships, Barclays Corporate provides integrated banking solutions to businesses with an annual turnover of more than £5 million in the UK and large local companies, financial institutions and multinationals in non-UK markets. We facilitate the success and growth of our clients by providing lending, risk management, cash and liquidity management, trade finance and asset and sales financing. Additionally, our clients benefit from the breadth of the Barclays Group, through access to the investment banking services of Barclays Capital including debt and equity capital markets, the private wealth management expertise of Barclays Wealth, and the card and payment services of Barclaycard. Barclays Corporate employs 11,900 people globally. For more information please visit

About Barclays

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 147,500 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website

About Orient-Express Hotels Ltd.

Orient-Express Hotels Ltd., (NYSE: OEH, is the name behind an elite collection of 49 iconic travel experiences in 24 countries, 40 of which are highly acclaimed hotels, each unique in style and character, from the Mount Nelson in Cape Town and Rio’s Copacabana Palace, to the Grand Hotel Europe in St. Petersburg and Maroma Resort & Spa on Mexico’s Riviera Maya. The Company first began to offer exceptional luxury travel experiences in 1976, when it purchased Hotel Cipriani in Venice and then shortly afterwards, recreated the celebrated Venice Simplon-Orient-Express, which links London, Paris and Venice as well as other destinations. There are also two river cruise operations, six luxury tourist trains and a stand-alone restaurant, the celebrated ‘21’ Club in New York.