PRESS RELEASE

MARF registers a bond issue by Grupo BATLE

With a value of €30 million, a term of 7 years and a 4% coupon

The Mercado Alternativo de Renta Fija (MARF) has registered a bond issue by Cadena Mar -Group Batle- aimed at financing  the construction of two new hotel complexes which the company will develop in Playa Mujeres, Cancún (Mexico), as part of the company’s international expansion plan that it is carrying out in the Caribbean area.

The issue, with a value of €30 million, is part of a €120 million corporate financing operation, considering the loans simultaneously obtained by the company with the issuance of the bonds, and has been distributed among qualified Spanish and international investors. The bonds’ individual nominal value is €100,000, they pay a 4% annual coupon and their maturity is September 2024. The structure of the issue will feature certain personal and mortgage-related guarantees granted by Batle Group’s companies to bondholders.

Alantra acts as global coordinator, placement entity and Registered Advisor in MARF, while DLA Piper Spain acts as legal advisor of Grupo Batle.

Axesor Rating has awarded a BBB rating to the bond issue.

Batle, a family company founded in 1956 that specialises in the management of hotels and holiday resorts, manages 9 hotels in the Balearic Islands and 3 resorts in the Dominican Republic. The Group operates under three commercial brands: Mar Hoteles and Lively Hotels in the Balearic Islands and Majestic Resorts in Punta Cana, with about 3,400 rooms. Besides this, Batle operates the travel agency Goodbytravel, through which it markets its hotel offering.

At the end of 2016 Grupo Batle achieved consolidated revenues of €127.4 million and EBITDA of €42.7 million. Spain represented 29% and the Dominican Republic 71% of the Group's total sales.

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