Ireland’s largest hotel group, Dalata, has secured additional financial strength with an amendment to its existing debt facilities. Its revolving credit facility has been increased by €39m to €364m until September 2022. At the end of June it had cash resources of €103m and further undrawn committed debt facilities of €72m. The undrawn committed debt facilities have increased to €111m as a result of the increase in the revolving credit facility. Our new covenants will support Dalata as we navigate through these difficult and uncertain times and enhance our strong liquidity position.”Online Editors

Source: Irish Independent July 10, 2020 06:33 UTC