Dalata wins loan covenant break as tourism reopens
Dalata, the Irish hotel group, has amended its main revolving bank facility to increase the size to €364m and take a break from covenant reporting. Loans bankers say the hospitality industry will still need more concessions from lenders, despite starting to reopen across Europe.
Dalata, which was on an acquisitive streak in the years leading up to the Covid-19 pandemic, has amended a 2018 facility, increasing the size by €39m to €364m until 2022.
This additional amount will not last the life of the facility, which is due to mature in 2023.At the ...