LONDON, 30 September, 2011 – Panmure Gordon & Co., a leading independent institutional stockbroker and investment bank, is pleased to advise that it has acted as financial adviser to MWB Group Holdings plc (LSE: MWB) on the sales and leasebacks of five Malmaison hotel properties for approximately £100m, in connection with the refinancing of its £282.4m debt facilities.
The sales and leasebacks are subject to the approval of MWB shareholders which will be sought at a General Meeting on 18 October 2011. Irrevocable commitments of over 50%, sufficient to ensure the passing of all resolutions, have already been received from MWB shareholders.
Hugh Morgan, managing director in Panmure Gordon’s investment banking team, commented: “We are delighted to have worked closely alongside our client, MWB, during its refinancing. This transaction means the Group will have a more robust capital structure for the future.”