Emperador offshore unit seals 300-M euro loan

Liquor powerhouse Emperador Inc. will guarantee a 300-million-euro ($345-million) loan facility to refinance an existing obligation of its wholly owned Emperador International Ltd. (EIL).

In a regulatory filing on Monday, the firm led by tycoon Andrew Tan said the new facility would be backed jointly with Emperador Distillers Inc. (EDI) as guarantors.

“The loan shall be used to refinance the amounts outstanding under the facility agreement dated Nov. 10, 2023 (the “Existing Facility”), entered into by EIL as borrower and Emperador Inc. and EDI as guarantors,” Emperador said in the regulatory filing.

The three-year loan will be arranged by a group of lenders led by Banco Bilbao Vizcaya Argentaria, S.A., Singapore Branch, Bank of China (Hong Kong) Ltd. and DBS Bank Ltd.

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These will also act as mandated lead arrangers, underwriters and bookrunners.

Interest rate is based on the Euro Interbank Offered Rate, along with an applicable margin. The refinancing move is expected to streamline the group’s debt obligations.