NH Hotels scores HY refi after shareholder injects cash

NH Hotels has successfully refinanced its existing 3.75% 2023 bonds with a new €400m five year non-call two high yield bond, with the hotel chain supported ahead of the issue by a €100m cash injection from its shareholder, Thailand’s Minor Group. It will carry on shoring up its liquidity position in the months ahead, with a €200m sale-and-leaseback deal set to close shortly.